Home French banking sector Overview Reactions to comments made by the Managing Director of the IMF  

Press release  

31 august 2011

Reactions to comments made by the Managing Director of the IMF

Comments made by Christine Lagarde, Managing Director of the International Monetary Fund, on recapitalising banks elicited a host of reactions.


Summary of responses

  • European Banking Authority: "The stress tests recently conducted by the EBA demonstrated that EU banks had significantly reinforced their capital and are capable of withstanding adverse macro-economic scenarios".

  • European Commission --> Ollie Rehn, EU Commissioner for economic and monetary affairs: European banks are "better capitalised than they were one year ago".

  • Bank of France --> Christian Noyer: "Those who know the situation the best are the people from the European Banking Authority (...) and they are saying that there is no need to recapitalise or, more precisely, that there is a need to recapitalise banks that did not pass the European stress tests in July".

  • Medef --> Laurence Parisot: "For the French banks, it should be kept in mind that our banks are among the most solid in the world".

  • French Markets Authority --> Jean-Pierre Jouyet: a "number of European banks" need to be recapitalised, but added that they are not among "the largest banks".

Source: AFP

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