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German banks launch last-minute attempt to relax Basel III rules

Germany’s biggest banks yesterday launched a last-minute attempt to relax the tough new proposals on capital requirements before today’s Basel Committee on Banking Supervision meeting to finalise the rules.

Germany’s banking industry warned that its top 10 banks will have to raise as much as £87bn of new capital under the new regulatory structure, according to a report in the FT.

The Bundesverband Deutscher Banken, the association of private banks in Germany, says the Basel III rules would limit the banks’ ability to function, would inhibit lending and undermine the German economy – the biggest in Europe.

Today’s meeting will attempt to define the capital ratios that banks would be expected to keep in reserve in case of a banking crisis. According to the report, it is expected the minimum of tier 1 capital ratio – the highest quality of capital and the main measure of a bank’s financial strength – is likely to be raised from 4 per cent to between 6 per cent and 8 per cent.


Pre-Budget report is slimmed down

The Government is to replace the pre-Budget report with a slimmed-down autumn statement in late November or early December

Make saving the goal

Money Marketing is launching a campaign, Pave The Way To Save, calling on the Government to give the new financial services regulator a statutory objective of increasing saving and protection rates. The Treasury is currently consulting on the structure of the Consumer Markets and Protection Authority which will have a primary objective of ensuring confidence […]

Smaller firms fund manager Williams leaves Gartmore role

Ex-Axa Framlington boss Robert Kyprianou has joined Gartmore as a non-executive director while head of UK smaller companies Gervais Williams has left the firm. Williams will be replaced by Adam McConkey who has 11 years’ investment experience and has worked at Gartmore since 2000. Williams ran the fledgling, growth opportunities and Irish growth investment trusts, […]


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