After all, we stand to gain an international minimum standard that will apply in more than 100 countries – one that will bolster financial stability and minimise the additional regulatory work as a result of harmonisation. This standard will help to put banks’ capital base on a sound and sustainable footing and so help to restore further confidence in the banking sector.
Allow me to say a few words about the impact. We as the German supervisors consider the increase in capital requirements under Basel III for German institutions to be acceptable, even though significant increases are to be expected in individual cases. At the same time, quite a number of banks will see their capital requirements decline.