ECB’s Liikanen says Basel III will not limit recovery

BASEL, Switzerland (BestGrowthStock) – The new banking regulations will contribute to a more stable financial system and support economic growth, European Central bank Governing Council member Erkki Liikanen said on Monday.

“This won’t limit growth and recovery,” Liikanen, who also heads the Bank of Finland, told reporters on the sidelines of the Bank for International Settlements meeting.

He also said the way the reforms will be phased in will balance any negative impact for bank lending from forming and will support sustainable growth in the medium and long term.

(Reporting by Sakari Suoninen)

ECB’s Liikanen says Basel III will not limit recovery