For more information, journalists are welcome to contact:
Senior Communications Advisor
T +31 (0)70 314 9928
Today, the Dutch financial daily Het Financieele Dagblad published an opion editorial from Jürgen Rigterink, CEO of FMO, and Berry Marttin, a member of the Executive Board of Rabobank.
Both FMO and Rabobank are concerned about what is probably an unintended effect of the new Basel IV proposals on investment in and trade with developing countries and on local economies there. The proposals put forward by Basel in March last year and which are now up for discussion entail a large increase in the requirements imposed on banks wishing to do business in developing and emerging countries. In particular, additional solvency requirements will be set for international trade financing and participations by Western development banks in businesses in these countries. This will negatively impact the financing of key projects for development.
FMO and Rabobank propose Basel IV to be amended on this point so that the Basel regulations do not disproportionately disadvantage activities in and trade with developing countries.
For the full story (Dutch only) go to het Financieele Dagblad