Bloomberg News

Banks to Cooperate With Volker-Like Rule, Oudea Tells Le Figaro

April 03, 2012

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.

To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net;

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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