Schaeuble Says Global Bank Capital Rules Mustn’t Punish Europe
- G-20 leaders support Europe’s demand for ‘level playing field’
- Basel Committee aims to finish framework revision this year
This article is for subscribers only.
German Finance Minister Wolfgang Schaeuble said global regulators mustn’t punish Europe or any other region as they complete work on revamped bank capital requirements by the end of the year.
“The rules mustn’t have particularly negative consequences for specific regions because banks’ balance sheets and the financial markets are structured quite differently around the world,” Schaeuble told reporters in Bratislava on Saturday. “This is a crucial, common European concern. In Europe, companies are mostly financed via banks, whereas in the U.S. this is mostly done in the capital markets.”