Insider sources told Bloomberg that while the US, UK and Switzerland are in favour of the levy being agreed, Germany, France and Japan are against the idea.
The debate is likely to be fraught with tension, as the former group agreed to soften some of the proposals made recently by the Basel Committee on Banking Supervision in exchange for an agreement that the FSB would do more to control the largest banks.
Richard Spillenkothen, a former member of the Basel Committee, said: "The remaining issues surrounding too-big-to-fail banks are tougher than what has been resolved, so that highlights the differences between these two camps even more."
He added that the US, UK and Switzerland are all anxious to avoid the need for future bank bailouts after handing out billions at the height of the financial crisis.
The FSB meeting has been scheduled to take place in Seoul on October 20th.
By Asim Shah