Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-04-16-Speech-2-323-000"
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"en.20130416.41.2-323-000"2
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"Mr President, I would like to congratulate my colleague Othmar Karas for his excellent work.
In terms of the Irish Presidency, reaching political agreement on this file was a significant achievement and will represent an important milestone in terms of our Presidency priorities. Thanks to this report, banks will no longer be able to give preference to investment banking but must now at least place equal emphasis on retail banking and granting credit to SMEs. This new set of rules will make it necessary for all European banks to finance the real economy. As I said previously, it will allow SMEs increased access to credit and will make this a banking priority, as it should be.
Liquidity requirements will be introduced in 2015, whereby banking institutions will be required to hold liquid assets with a total value that would cover the net liquid outflows that might be experienced under stressed conditions over a period of 30 days, so that our banks will not be allowed to over-expose themselves again in the future. There will also be administrative sanctions for banks which fail to comply, which is also very welcome."@en1
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