Germany concerned by Trump plans to examine market regs

February 9, 2017 09:44 AM

The German Finance Ministry is concerned about an order last week issued by U.S. President Donald Trump to review major banking rules that were put in place after the 2008 financial crisis, a senior government source said on Thursday.

The source also said the ministry believes there were lessons learned from that financial crisis and that they should be followed, especially the capital and liquidity standards set for major banks.

The Finance Ministry does not know how the Trump administration will position itself in Basel III talks.

The 2010 Dodd-Frank the financial market reform law was designed to prevent a repeat of the 2007-09 financial crisis and subjects banks to greater oversight and expands regulation of derivatives.

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