German State Seeks Some Bank Rule Exceptions, Handelsblatt Says

The German state of Lower Saxony wants Federal Finance Minister Wolfgang Schaeuble to exempt smaller banks from new capital reserve rules that will apply under Basel III regulations, the state’s Prime Minister David McAllister told the Handelsblatt newspaper in an interview.

The new rules may dampen the savings and cooperative banks’ capacity to lend to their main clients, which are mid-sized companies, McAllister is cited as saying.

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