Deals
Bank Overhaul Mess Is Noose Around EU Recovery, Clausen Says
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Global financial regulators have failed to create clear standards for banks, meaning lenders are hoarding cash instead of providing loans needed to drive growth, European Banking Federation President Christian Clausen said.
“This is the biggest change in the banking system ever seen; all items in the balance sheet are in play,” Clausen said in an interview in Stockholm yesterday. “The incentive for banks, even though they have built up their capital, to actually go out and support good initiatives is very limited.”