It comes as no surprise that the financial industry dislikes these new rules. The large banks say that they hinder lending and increase the cost of capital. But this is not the case in the euro area, and even less so in France.
Banks have significantly strengthened their capital base since 2010 and yet they have never made so many loans at such low rates. The temptation of a regulatory race to the bottom exists in any industry, but it is even stronger in finance.