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ECB’s Wellink Says Basel Rules are ‘Substantial,’ NRC Reports

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July 31 (Bloomberg) -- Dutch Central Bank President Nout Wellink, also chairman of the Basel Committee on Banking Supervision, says the new capital and liquidity rules for banks remained “substantial” even after they were softened, NRC Handelsblad reported, citing an interview with Wellink.

As a result of the rules, banks will need to use large parts of their profits to strengthen capital buffers, in stead of for paying bonuses or dividend to shareholders, he is quoted as saying. Some banks may need to sell shares to raise additional capital, Wellink told NRC.

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To contact the editor responsible for this story: Maud van Gaal at mvangaal@bloomberg.net

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