Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

Germany reluctantly backs compromise on new global bank rules

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/14/2017 | 07:20pm CET
The skyline with its banking towers is photographed on a sunny autumn afternoon in Frankfurt

German regulators are backing a compromise for passing new global banking rules aimed at avoiding a repeat of the 2007 financial meltdown, their representative at the talks said on Tuesday.

The rules, known as Basel III, have been 10 years in the making and recent efforts to reach a deal were hampered by resistance from Germany and France to setting a minimum capital requirement for large banks that use own models for calculating risk.

But Andreas Dombret said Germany's Bundesbank and main financial supervisor BaFin supported the latest proposal on such "output floor" even this was "anything but a desired result".

The compromise would see the floor set at 72.5 percent of the capital banks would have to hold under a stricter model set by regulators, down from the 75 percent envisaged originally, Dombret said.

"A possible compromise with an output floor of 72.5 percent is anything but a desired result for Germany," Dombret said. "But a failure because of 2.5 percentage points - BaFin and the Bundesbank agree - would not be justified."

(Reporting By Francesco Canepa; Editing by Angus MacSwan)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
04:29p CITY OF NORTH PORT FL : Dress your kids in a Batman or Batgirl costume for Movie on the Green and enter them into a prize drawing
04:27p Wall Street ends higher despite government shutdown threat
04:24p OHIO AGRIBUSINESS ASSOCIATION : Ongoing Discussions to Resolve Section 199A Tax Issue
04:24p OHIO AGRIBUSINESS ASSOCIATION : Register Now for 2018 OABA Industry Conference
04:24p Industrials Up Ahead of Caterpillar, GE Earnings - Industrials Roundup
04:23p Energy Stocks Down on U.S. Production Growth Fears - Energy Roundup
04:22p Equities climb globally as shutdown brews, Treasury yields touch three-year high
04:20p U.S. FTC set to make second request on Broadcom's bid for Qualcomm - sources
04:20p Health Care Ticks Up With Shutdown in Focus -- Health Care Roundup
04:19p BOBBY L RUSH : Rush Opening Statement on Liquefied Natural Gas Exports and Public Utility Regulatory Policies Act Modernization
Latest news "Economy & Forex"
Advertisement