Home News BVR and DSGV against bank charge for all credit institutions

BVR and DSGV against bank charge for all credit institutions

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BERLIN (Dow Jones) – The Federal Association of German Cooperative Banks (BVR) and the German Savings Banks and Association (DSGV) have against the plans to introduce a very general bank levy, with the costs of financial crisis will be financed.
Befriend To put it plainly, we can not with This idea does not, "said President BVR-Uwe Fröhlich on Tuesday at the annual press conference of his association in Berlin. "It can not be, that the one causing the crisis, the other But to pay for it, "criticized President DSGV Heinrich Haasis.
The previously publicly known plans, at all Credit institutions, regardless of their risk tolerance and system relevance, according to of total assets to attract a levy. "In order to pay all savings banks and credit unions with a solid Business credit; That’s the wrong conclusion from the Financial crisis, "complained Haasis.
Such a tax would affect all banks in Germany summarized into a risk sharing unjustified, even criticized The BVR-President. Those banks that are themselves in crisis could have helped the black writing and not already irrelevant paid taxes in Germany would probably be those who This special tax would mainly provide said Frohlich. In contrast, would the banks, the largest Risks were received and had to be rescued by the taxpayer, the Delivery now and in the near future does not have enough of.
The President called DSGV Haasis, with banking regulations to start with the real perpetrators of the financial crisis. "Very risikogeneigte and systemically important banks must be limited, "demanded Haasis. These necessary Conclusions from the financial crisis should not thereby covering be that money would be collected for stable banks.
To ward off future threats, it would be better to take necessary steps in the right of supervision that was Frohlich convinced. Precondition for an international stable in the long run Financial system is out of BVR view that the G-20 Decisions Disciplining of the capital market-led, large international financial groups will be implemented.
The Federal Ministry of Finance (BMF) will, according to one Ministry spokesman until April, a proposal for a special charge of the banks finalize. The banks would have to be at the cost of crisis participate, "said BMF spokesman Michael Offer on Monday in Berlin. By Proposal should contribute to the international debate on this Topic will be delivered.
Information received by the special levy funds could be in a Fund flows, stabilized with the aid of ailing banks and bankruptcies are to be prevented. The plan would be between Ministries and the Chancellery vote. Further details on the special levy Offer not called.

   

Website: www.bvr.de
www.dsgv.de
www.bundesfinanzministerium.de

-By Beate Preuschoff, Dow Jones Newswires, +49 (0) 30 - 2888 4122,
beate.preuschoff @ dowjones.com
DJG / bep / kth
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(END) Dow Jones Newswires

March 09, 2010 06:03 ET (11:03 GMT)

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