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Germany reluctantly backs compromise on new global bank rules

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - German regulators are backing a compromise for passing new global banking rules aimed at avoiding a repeat of the 2007 financial meltdown, their representative at the talks said on Tuesday.The rules, known as Basel III, have been 10 years in the making and recent efforts to reach a deal were hampered by resistance from Germany and France to setting a minimum capital requirement for large banks that use own models for calculating risk. But Andreas Dombret said Germany's Bundesbank and main financial supervisor BaFin supported the latest proposal on such "output floor" ...

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First Published: Tue, November 14 2017. 23:46 IST