FBF: French banks will make every effort necessary to bolster their capital and continue to finance the economy

03 November 2011

The chairmen of France's major banks reaffirmed their intention to implement the measures adopted by the European Council on 27 October 2011.

The banks confirmed that they were going to continue to strengthen their capital positions (reserves) in accordance with the new European Banking Authority requirements, in anticipation of their goal of implementing the new Basel III solvency standards starting in 2013.

The banks confirmed to the Prime Minister that they would do so through their own resources and without State intervention. To achieve this, the banks will work closely with the Governor of the Banque de France. Furthermore, they will continue to implement a moderate, reasonable distribution policy as they have done in the past by placing a very large portion of their profits in reserves.

Press release

© FBF - French Banking Federation