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Bundesbank’s Lautenschlaeger Says Basel III Won’t Curb Credit

Bundesbank Vice President Sabine Lautenschlaeger said the new Basel III banking rules are unlikely to make it more difficult for German companies to obtain credit.

“The provision of credit for Germany’s real economy is not in danger” because of higher capital and liquidity rules for banks, Lautenschlaeger said at an event in Stuttgart today. “Quite the opposite seems to be the case.”

Capital and liquidity rules for banks in an agreement known as Basel III were enacted by international regulators in 2010 in a move to help protect the world’s economy after the worst financial crisis in decades. The regulations, which need to be implemented by 2019, require some banks to hold more capital.

All of the Basel III reforms are subject to studies about their short-term and long-term impact on the banking system and the real economy, Lautenschlaeger said.

“These studies have shown that while there are going to be effects on the real economy, the short-term impact is going to be marginal,” she said. “In the longer term, the rules will foster prosperity as financial crises are going to become less likely, Basel Committee experts found.”

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