DNB’s Pres Knot: Risk of a new global recession has clearly increased

Comments from the De Nederlandsche Bank’s Chief- (Reuters)

• More developed countries could lose market confidence due to debt position and moderate growth prospects
• Outlook for stability in Netherlands is “worrisome” due to debt crisis and disappointing economic growth
• Fin Min and DNB want to raise capital requirements for Dutch systems/relevant banks by 1-3% above Basel 111 level of 7%.