EBF: EU finance ministers need to get Basel back on track

12 July 2016

The EBF notes that European finance ministers will discuss additional banking reform measures planned by the Basel Committee on Banking Supervision. These regulatory measures, commonly known as ‘Basel IV’, pose a threat to the European economy and the EU’s growth agenda, according to EBF's Mijs.

Says Wim Mijs, Chief Executive of the European Banking Federation (EBF):

“The finance ministers’ response to the Basel plans is still far too lacklustre. In a bank-financed economy like Europe any uncertainty over extra capital requirements directly affects growth prospects. For European banks the Basel Committee’s plans for additional requirements go well beyond what has already been agreed.

Businesses and households across Europe may have to pay more for loans and mortgages if Basel gets its way. Finance ministers need to recognize this and bring us back on the right track.”

Full statement

© EBF