"We will continue to campaign for the preservation of the universal bank - at national and international level", said Jürgen Fitschen, the new President of the Association of German Banks.
“Germany has had a tried and tested universal banking system for many years and decades. It enables risks to be spread widely, thus contributing to the stability of the financial sector. What is more, it exactly matches the needs of corporate and retail clients. We will continue to campaign for the preservation of the universal bank - at national and international level”, said Jürgen Fitschen, the new President of the Association of German Banks and Co-Chairman of the Management Board of Deutsche Bank AG, on assuming office in Berlin. “The business model of the universal bank has proved its worth and been an anchor of stability.”
Fitschen also stressed that, thanks to a significantly higher capital base and improved risk management, the banking system in Germany was considerably more robust today than it had been before the crisis.
In areas where regulation had proved deficient, he added, steps were being taken to eliminate these shortcomings. “The rules governing banking have been thoroughly overhauled in recent years and a number of new measures have been put in place. We should now await their implementation. Every measure takes time to prove its effectiveness”, stressed Fitschen.
Press release
© BDB - Bundesverband Deutscher Banken
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article