Bos wants better oversight on banks

14th August 2007, Comments 0 comments

14 August 2007, THE HAGUE – Finance Minister Wouter Bos wants better oversight on banks' lending activities in response to the crisis in the financial world. Bos is surprised at the speed with which the problems in the US have affected Europe.

14 August 2007

THE HAGUE – Finance Minister Wouter Bos wants better oversight on banks' lending activities in response to the crisis in the financial world. Bos is surprised at the speed with which the problems in the US have affected Europe.

The past few years have seen the rise of more and more complex investment products. Bos wants this market better monitored by the Nederlandsche Bank and the European Central Bank, and other regulatory bodies.

"It appears the regulators do not have the same expertise as the people who are trading in these products," Bos said. He does approve of the ECB's recent measures to restore stability on the markets.

[Copyright Expatica News 2007]

Subject: Dutch news

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