Basel III will choke SMEs, say leading bankers

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Leading bankers on Thursday stressed the potentially adverse consequences that the Basel III accords could have on financing small and medium enterprises (SMEs), calling for G20 leaders to pay close attention to the sector.

Speaking at the close of the G20 Business Summit in Seoul, Peter Sands, the chief executive of Standard Chartered, said: "When it comes down to it, the most powerful source of job creation in most countries in the world are the SMEs. And the SME sector could get badly affecte

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