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.
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.
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.
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.
It comes with a nice office and a grand title. You would probably have a pretty generous expense account. And there may well be a lucrative consulting gig with Goldman Sachs Group Inc. when it is all over.