The Institute of International Finance called on regulators to forgo a plan to subject the world's largest financial institutions to a capital surcharge. The institute also said European banks do not need a forced recapitalization. Policymakers must balance economic growth with banking-system soundness, the group said. "We cannot visualize a strong global recovery as long as we continue to have deleveraging in the household sector and the corporate sector in the United States, Europe and the U.K.," said Managing Director Charles Dallara.
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