German banks try to fend off Basel III

Germany’s top 10 banks will have to raise as much as €105bn of fresh capital under a global regulatory overhaul, the country’s banking industry has warned September 2010, in a last-ditch effort to change tough new rules.

The so-called Basel III rules would harm the banks’ ability to function, curtail lending and undermine Europe’s biggest economy, said the Bundesverband deutscher Banken, representing private sector banks.

The warning on the 6 September 2010 came a day ahead of a meeting of the Basel Committee on Banking Supervision, which is putting the finishing touches to rules governing the capital and liquidity requirements for banks.

ESO: Background information: Berlin expects to agree Basel accord http://www.europeansources.info/record/berlin-expects-to-agree-basel-accord/

Wikipedia: Bundesverband deutscher Banken (Federal Association of German Banks) http://en.wikipedia.org/wiki/Bundesverband_deutscher_Banken

ESO: Background information: Banking reform: Suspense over http://www.europeansources.info/record/banking-reform-suspense-over/

---