"Big Twenty" discussed the problems of the banking sector

07.11.2011 At the beginning of November current year the summit of "big twenty" which discussed the urgent problems of European countries in crisis took place. One of the main topics of discussion was, of course, the banking sector. Financial Stability Board listed the 30 major banks that have the greatest impact on the banking sector in Europe. Their safety and public support are one of the key issues of public policy of EU member states. During the discussions the general plan for programs to increase European major banks own capital at 1-2.5% was proposed. The terms for the increase were also marked – the beginning in 2016 and ending in 2018. Specific projects to implement the measures for realization are to be provided by banks already in 2012.
Let’s name several credit organizations from the list of Financial Stability Board: these are a group of American banks such as Bank of America, JPMorgan Chase, Citigroup; British Royal Bank of Scotland, Barclays, HSBC, Lloyds Banking Group; German Deutsche Bank and Commerzbank; Swiss Credit Suisse and UBS and others.

Expert’s opinion

“A big plus of the summit is a declaration of the largest and requiring the strongest state support banks list. For investors this information is extremely important when making the choice of credit organization for account opening for physical/corporate person and making further financial operations. Thus, we can say about the certain guarantees of "big twenty" because the mentioned banks are strategically important for the states”.

On the basis: www.banki.ru

Andrianova Irina ( the lawyer of international consulting department of Honest & Bright)