French banks are ready to cooperate with European guidelines “inspired by” the Volcker rule, Societe Generale SA’s Chief Executive Officer Frederic Oudea said in an interview in Le Figaro online.
“What’s at stake is to continue to have a solid retail bank, but also investment bank activities that perform well because the new Basel capital requirements are going to impose the development of the financing of European economies through the market,” Oudea told the publication.
He added that no one expects a complete separation of banks’ activities on an international level, Figaro reported.
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