Nowotny Demands Same Rules for All Banks

People ♦ Published: October 18, 2013; 17:00 ♦ (Vindobona)

Govenor Nowotny urges for a discussion about the capital requirements (Basel III) for banks, which applies only for the major banking institutes in the US but for all banks in Europe.

Nowotny Demands Same Rules for All Banks / Picture: © Agenda Austria 2020

Ewald Nowotny, Govenor of the Austrian National Bank (OeNB), wants future capital requirements to apply to both American and European bank to the same extend. According to the Govenor, in the US 16 major banks fulfill the future capital requirements and are monitored by other authorities than “the plethora of local banks and cooperations,” Nowoty claims and pointed out that those…