Bundesbank's Weber opposes restructuring plans for BaFin |
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Sun, 21 Jan 2007 17:44
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FRANKFURT (AFX) - Bundesbank president Axel Weber is opposed to a possible restructuring of financial markets regulator BaFin, which is being considered by the German finance ministry, he told daily Frankfurter Allgemeine Zeitung in Saturday's edition.According to press reports, the German finance ministry is considering giving BaFin a management board that will include a representative from Germany's Bundesbank.Currently, BaFin has a president and a vice president, but no management board.Weber said that including a Bundesbank representative in BaFin's executive structure is not 'sensible' because it will obliterate the responsibilities and mandates of both institutions.newsdesk@afxnews.comjcs/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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