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G20 leaders also vowed in a draft communique to do more to strengthen border controls and airport security.
The draft communique reflected a row brewing between Europe and the United States over extending a promise to reduce budget deficits beyond 2016.
"The heads of state or government of 27 member states reconfirmed their statement of 29 June 2016," states a draft communique to be released after dinner on Thursday.
A draft communique on the summit's decisions said that a "single resolution authority will be required, with the necessary powers to ensure that any bank can be resolved with the appropriate tools".
It was all very moving, until he theatrically brandished the draft communique at the other sherpas and caught it on one of the candles – and it went up in flames.
According to a draft communique, the meeting in Shanghai also agreed to use all policy tools to lift sluggish global growth, despite German disquiet over fiscal and monetary stimulus.
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The European council's president Herman Van Rompuy, speaking alongside Barroso, said a draft G20 communique showed "support and encouragement for the euro area countries and leaders and for the European Union as a whole to overcome this crisis".
While the draft summit communique repeatedly referred to the need to stimulate growth and deplored Europe's record levels of unemployment – more than 26 million – there was little sign of any departure from the "fiscal consolidation" that has been the preeminent response to the crisis over the past three years.
Over the weekend, President Obama defended his decision to boycott the conference, saying the anti-Israel rhetoric in the draft final communique was "oftentimes completely hypocritical and counterproductive".
According to well-placed sources, a draft of the communique refers to the key role of a free media in maintaining peace and democracy.
As Donald Tusk, the Polish premier whose country holds the rotating presidency, set out the achievements so far, a leak of the draft eurozone summit communique began doing the rounds.
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CEO of Professional Science Editing for Scientists @ prosciediting.com