January 9, 2017 / 11:27 AM / 3 years ago

German banks don't see major G20 regulation shift due to Trump

BERLIN (Reuters) - The election of Donald Trump as U.S. president will not lead to a major shift in financial regulation in the group of 20 leading economies (G20), but it will probably bring some changes for banks, Germany’s BdB banking association said on Monday.

“I personally don’t expect the G20 to change its entire course on financial regulation due to Trump, but there could be adjustments in one area or the other,” BdB head Michael Kemmer said during a news conference in Berlin.

Germany has taken over the presidency of the G20 leading economies, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following Trump’s U.S. election victory.

Reporting by Gernot Heller,; Writing by Michael Nienaber,; Editing by Joseph Nasr

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