Excessive capital requirements could hurt growth, U.K.'s Brown says

03/29/2010 | Bloomberg Businessweek

Gordon Brown, Britain's prime minister, urged the Basel Committee on Banking Supervision and the Financial Stability Forum to develop capital requirements and other rules for banks that can be implemented across the Group of 20 nations. "Every country is beginning to realize we need more certainty to make it possible for banks to lend more," Brown said. "By the end of this year, we have got to reach agreement internationally that will give more certainty about their capital position." He also warned that excessive capital requirements could hinder lending and economic growth.

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