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Thu 03 Mar 2010Bundesbank chief opposes bailout funds for banks
FINANCIAL REGULATION should be strengthened by improving existing rules on how much capital banks must hold rather than by capping the size of banks or setting up bailout funds, the head of the German Bundesbank has said.
Speaking at Trinity College Dublin, Dr Axel Weber, a member of the European Central Bank’s governing council, criticised US plans to limit the risky activities of banks and to cap the size of the institutions. The plans would be “the most severe intervention” by a regulator in the sector, he said.
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