Bini Smaghi on growth benefits of larger bank capital
Lorenzo Bini Smaghi, an executive board member at the European Central Bank, on Monday said higher capital buffers in Italy were needed not only to meet Basel III but aid growth in the country.
At an event in Milan, Italy, Bini Smaghi said: "Banks will need more capital, not only to meet the requirements of Basel III, but - above all - because otherwise banks will not be able to issue enough securities on the market in the medium to long [term] to adequately fund the Italian economy."
Bini
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