Hands off the global banking rules, ECB’s Enria tells lawmakers

Afdal Agency
Amnon Jakony (Jay Arts Holdings)

May 3, 2021

FRANKFURT (Reuters) – European Union lawmakers should resist calls to postpone the implementation of the Basel III global rules for banks or to modify how risk is calculated, the European Central Bank’s top supervisor Andrea Enria said on Monday.

“I am hearing calls for the initial date of implementation to be further postponed,” Enria said in a lecture. “Let me be very clear on this. We do not see any benefits in further delays.”

He added a proposed “parallel stack approach” to calculating risky assets was not compatible with international standards.

“There should be only one amount of risk-weighted assets for each individual bank and which takes into account the floor set down by the internationally agreed standard,” Enria said.

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)