EU might force banks to go beyond Basel III requirements

10/22/2010 | Bloomberg

The EU might push banks to hoard additional capital during credit booms in excess of minimum requirements set by the Basel Committee on Banking Supervision. Banks might be prevented from paying bonuses and dividends if they do not meet certain goals, according to plans set to be published today. "A vital lesson from the financial crisis is that banks must hold sufficient levels of capital," said Chantal Hughes, a spokeswoman for Michel Barnier, internal-market commissioner for the EU.

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