He said the demand for additional capital that will be delivered the Basel Committee of Banking Supervision, the regulator of global central banks, possibly endangering the economic recovery because it limits the ability of policy drawdown.
"Rules should apply Basel III for a period of 10 years to 12 years, giving time for banks to adjust," wrote the German Banking Association's statement released last night.
Meanwhile, Hans-Joachim Massenberg, Deputy Director of the German Banking Association, separately said the region's banking sector to meet many challenges during the process of economic recovery from the worst recession since World War II.
Institute of International Finance, a group of global negotiations, in June said the proposed regulation is likely to reduce the gross domestic product (GDP) amounted to 3.1% in the United States, Euro area and Japan in 2015.
Basel Committee consists of 27 countries and is responsible for formulating monetary policy for the creditor standards worldwide. Last week, the committee is projecting economic growth to be weaker
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