Question 26875 — banks and financial institutions

Summary

Mr. Rémi Delatte alerts the Minister of the Economy and Finance to the upcoming transposition, into European law, of the Basel Committee's recommendations regarding banking regulations. Contrary to the mandate given to it by the G20 not to increase the capital requirements of banks significantly, the Basel Committee actually recommends increasing the capital of European banks from 300 to 400 billion euros. However, such an increase in capital, in addition to reducing the financing capacity of the European economy, would have the direct consequence of an increase in the cost of credit by 5% to 7% which for economic actors, from businesses to individuals, would reduce their investment capacity by nearly 700 billion euros over the decade. Furthermore, such a measure would seriously hamper the competitiveness of European banks by compared to their competitors, particularly American ones. While the newly appointed European Commission must in the coming weeks examine the transposition into European law of the recommendations of the Basel Committee, it wishes to know the actions envisaged by the French Government to prevent a justified regulatory strengthening from becoming a dismantling of European financing of the economy and major investments in come to the European continent.

Machine translation from French. The official text remains authoritative.

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