BRIEF: Deutsche Bank CEO Balks At Funding EU Resolution Fund

Now is not a good time for banks to be called upon to make contributions to Europe's Single Resolution Fund, Deutsche Bank CEO Christian Sewing said Tuesday. At time when the banking sector is being called upon to provide finance for growth, recovery, and the green and digital transformation, it would be "more reasonable" for banks to lend this money to industry, Sewing told an event organised by capital markets industry group AFME Sewing said

At the same event BNP Paribas Chairman Jean Lemierre urged progress on banking union and capital markets union, as well as regulatory reform so that banks could transfer assets off their balance sheets by securitisation. He blamed the political hangover from the subprime crisis for the reluctance of the EU to promote securitisation more actively.