„Banking System Becomes More Solid“

People ♦ Published: December 4, 2012; 22:12 ♦ (Vindobona)

The chairman of OeNB (Austrian National Bank) Ewald Nowotny thinks that the banking supervision and the Basel III framework will stabilize the financial markets.

„Banking System Becomes More Solid“ / Picture: © Wikipedia / Christian Wirth (Wirthi)

“We will have a smaller, but more stable banking system in Europe.” OeNB´s governor Nowotny stated. As a result, the current system must be repaired, Nowotny said. However, the implementation of a new system will take some time, he said. At the moment, the banks still have no adequate equity base. Hence, the Basel III framework will be implemented according to plan, Nowotny…