Brussels/PARIS (Reuters) - European Bank shares pink Friday on hopes that the new rules of international capital for the lenders would be applied with a lighter touch in the European Union such as the Germany and the France require more flexibility.
At the same time, the Monetary Fund International urged rapid action to force the banks to hold more capital than the new minimum requirements due to come from 2013.
Berlin and Paris have pushed for flexible treatment of certain types of capital of the Bank whose controversial hybrid obligations, the EU is faced with new rules designed to make the shock test of banks, in an economic dip a source of EU, said Friday.
Germany wants lighter treatment of some hybrids, obligations that combine features of debt and equity, which were used in the past to strengthen cushions of capital banks, but now are regulators favours after the financial crisis.
France and Germany, top home insurers of Europe and where there are close ties between the insurers and banks, also want to protect the status of banks in insurance issues in the calculation of their capital.
Banking Europe index was about 1%, outperforming the benchmark FTSE Eurofirst 300.
French Bank Credit Agricole has been among the top winners of the page. These banks with big arm of insurance, as Britain's Lloyds and the France Societe Generale and BNP Paribas, has also increased.
Friday, the Financial Times said the European Commission has proposed that banks be allowed to side-step part of a recent international agreement on bank capital, seen as a sign that Berlin and Paris had pushed through the light-touch claims.
But a bid Germany and the France for more tender handling of an industry that many responsible for the crisis of credit seemed to disagree with the views of the Monetary Fund International who urged stricter guarantees for the big banks through additional capital buffers.
A document of the IMF Friday staff suggested that some of the largest banks in the world should top capital excluding newly agreed standards, known as Basel III.
The leaders of the top 20 economies of the world (G20) have already requested financial stability Board to arrive at recommendations in time for a November summit stop having taxpayers bail out banks in difficulty.
The goal is to provide additional safeguards such as the costs of capital and the most severe supervision for so-called systemically important financial institutions - such as Goldman Sachs, Morgan Stanley, Deutsche Bank and HSBC.
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The European authorities are working on new rules to make banks to set aside more capital to absorb losses Basel III agreement to strengthen the resistance of the lenders of the world.
But a German banker said to Reuters that his country has won the argument of flexibility in the treatment of a single form of the German capital hybrid, known as silent participations, relied on by the regional banks, regional groups.
Community law, however, is far from being finalized.
All the countries of the EU, including Britain, which sought stricter rules, first have to approve the proposal. The European Parliament, which has campaigned for more stringent regulations, will also have the chance to beef.
The position of Berlin and Paris puts them in a clash with London.
British Finance Minister George Osborne has recently co-authored a letter to Michel Barnier, the European official in charge of financial reform, requiring y be any retirement capital regime internationally - accepted Basel III.
A British diplomat "The UK fully supports the implementation of Basel III as agreed by the leaders of the g-20 without any watering," told Reuters.
(Reports Karolina Tagaris and Sudip Kar-Gupta in London, Arno Schuetze and Jonathan Gould in Frankfurt.) Other reports by Juliette Rouillon and Jon Hopkins; (Editing by Jon Loades-Carter and Jane Merriman)
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