HALISTER1: Germany’s BaFin Probes 11 Banks Over Panama Papers: Tagesspiegel

Germany’s BaFin Probes 11 Banks Over Panama Papers: Tagesspiegel

(Bloomberg) -- Investigations will “take some time” to be finalized, Felix Hufeld, head of German financial watchdog BaFin, is cited as saying in abstract of interview to be published Monday by Tagesspiegel.
  • Banking industry still has work to do to meet compliance rules in fight against money laundering, tax evasion and other areas
  • Banks’ business models still ~80% dependent on interest earnings, which can be fatal if economy cools down
  • NOTE: On May 10, BaFin’s Hufeld Says Easing Financial Rules Could Risk New Crisis
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0460692D GR (Bundesanstalt fur Finanzdienstleistungsaufsicht)

People
Felix Hufeld (Bafin)

To de-activate this alert, click here

UUID: 7947283