Deutsche, Commerzbank ready for SIFI capital rules
November 2, 2012 7:42 PM EST
Deutsche Bank declined to comment on the decision by the Financial Stability Board, but referred to the German lender's investor day presentation from September 12 which shows the bank already anticipated its inclusion in the list.
At the time, Deutsche Bank said it would strive for a core tier one capital ratio in excess of 10 percent by 2015.
The four global banks will be required to hold an extra 2.5 percent of common equity as a percentage of risk-weighted assets on top of a 7 percent minimum being phased in from January, according to the Financial Stability Board, a regulatory task force for the group of 20 top economies.
"By focusing on a client-focused core business, and by reducing risks we took into consideration the fact that we no longer fulfil the criteria for being among the global systemically relevant banks," Commerzbank said in a statement on Friday.
(Reporting By Edward Taylor; Editing by David Cowell)
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