Nout Wellink News
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Former European Central Bank policy maker Nout Wellink said Spain can’t realistically expect officials to narrow the bond spread with Germany to as little as 200 basis points, as he predicted “execution problems” with the ECB’s bond program.
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The U.K.’s choice of Bank of Canada Governor Mark Carney to lead the Bank of England was surprising given the breadth of local talent already available, said Dutch Central Bank President Nout Wellink.
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Basel Committee on Banking Supervision Chairman Nout Wellink defended the economic benefits of new banking rules, after Deutsche Bank AG Chief Executive Officer Josef Ackermann said they may result in job losses.
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The Dutch central bank, led by Nout Wellink , said the European Central Bank’s credibility in Germany may suffer if it doesn’t raise rates enough to slow accelerating inflation in Europe’s largest economy.
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The proposed new global banking rules that more than double capital requirements for lenders need to be implemented and supervised rigorously to be effective, said the head of the group that drew them up.
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Banks whose failure may cause a national economy to collapse will be targeted by global regulators for possible extra rules, said Nout Wellink , chairman of the Basel Committee on Banking Supervision.
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The Dutch central bank currently has 612 metric tons of gold and has no plans to sell, said Nout Wellink , the bank’s president.
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Dutch Central Bank President Nout Wellink, also chairman of the Basel Committee on Banking Supervision, says the new capital and liquidity rules for banks remained “substantial” even after they were softened, NRC Handelsblad reported, citing an interview with Wellink.
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Ex-Securities and Exchange Commission Chairman Arthur Levitt, in an interview today with Bloomberg Television, said it’s unlikely the SEC will ultimately be stripped of its responsibilities.
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The U.K. is losing about 38 billion pounds ($61 billion) a year to fraud, with the finance industry bearing the largest loss in the private sector of 3.6 billion pounds, the government said.
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