Basel III will cause ‘financial Darwinism’: BaFin’s Sanio
Top German regulator Jochen Sanio says Basel III will squeeze weaker banks, spur formation of large banking groups that will pose more systemic risk
The Basel III package will lead to a "brutal form of financial Darwinism," with only the strongest banks being able to adapt to the changed regulatory environment, Jochen Sanio, Germany's top regulator, said on Thursday.
Sanio, who is the president of Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany's supervisory authority, said in Frankfurt that while bigger, stronger banks will be able to weather the tougher rules, weaker banks will have problems finding investors to provide
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