Bloomberg News

German DIHK Demands Changes to Basel III Proposal, Passauer Says

May 03, 2012

A requirement for banks to set aside more capital for loans to medium-sized companies under proposed Basel III rules has to be corrected, Germany’s DIHK chambers of industry and trade said, Passauer Neue Presse reported.

The requirement is “an unjustified burden” that doesn’t reflect the comparatively lower risk of loans to medium-sized companies, DIHK President Hans Heinrich Driftmann wrote in a letter to German Finance Minister Wolfgang Schaeuble, the newspaper reported today.

Driftmann asked Schaeuble to push for changes in negotiations among the 27 European Union members later this month, the newspaper said.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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