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The Board of the European Banking Federation*, meeting today in Brussels, called on G20 leaders to carefully weigh all aspects of the proposed regulatory reform agenda at their Seoul Summit.
European bankers insisted on the necessity to maintain a proper level-playing field, in particular in the implementation of international measures in different jurisdictions. “Different implementations would result in competitive distortions, to the detriment of our economy” commented Alessandro Profumo, President of the EBF. The European banking industry accepts the need for stronger capital and Liquidity regimes and practices, and reiterates its readiness to comply with the new demanding capital levels. Nevertheless, the presidents of the national banking associations in Europe...
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