BERLIN (Dow Jones) – The German Savings Banks and Giro Association ( DSGV ) has spoken out on Tuesday for a deductible credit for business credit securitization of at least 10 %. "The increasing sales of structured products with the aim to diversify risk as widely as possible across the globe , was one of the main causes for the outbreak of the financial crisis, " DSGV President Heinrich Haasis said , according to a statement of the association.
"We need more personal responsibility of market participants who trade in these products , "stressed the President of the DSGV. A deductible of at least 10 % was part of a regulation, the policy appears more responsive to the risks of a market participant. " It must go about strengthening the confidence of financial market players , "stressed Haasis.
– By Andreas Kissler , Dow Jones Newswires , +49 ( 0) 30-2888 4118,
andreas.kissler @ dowjones.com
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