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The European Banking Federation (EBF) generally welcomes the G20 leaders' declaration concluding the Seoul Summit. A positive outcome of the Seoul summit indeed is the leaders' commitment to ensuring a level playing field. "This aspect is crucial for the banking industry, if a healthy competition is to be maintained" declared Guido Ravoet, Secretary General of the EBF "we are therefore glad that a commitment has been reiterated forcefully, but the proof of the pudding is in the eating: it remains to be seen how these measures will be implemented. That is why we are looking forward to the role played by the peer review and international assessment processes put in place." European banks also agree with the decision to establish a macro prudential framework; they further commend the proposed...
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