Caruana defends Basel Committee on SMEs to European parliament

Caruana, who is also governor of the Bank of Spain, was the last speaker on the day’s agenda, which focused heavily on how changes imposed under Basel II’s advanced internal ratings-based approach would result in substantially increased charges for certain types of loans to SMEs, as well as equity investments by banks in those types of firms, according to certain political factions within the EU.

Caruana opened his remarks in a conciliatory way, noting that: “The workshop today reminds us that

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