Germany concerned by Trump plans to examine market regs: source

[February 09, 2017]   BERLIN (Reuters) - The German Finance Ministry is concerned about an order last week issued by U.S. President Donald Trump to review major banking rules that were put in place after the 2008 financial crisis, a senior government source said on Thursday.

Wolfgang Schaeuble, German Minister of Finance attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 20, 2017. REUTERS/Ruben Sprich

The source also said the ministry believes there were lessons learned from that financial crisis and that they should be followed, especially the capital and liquidity standards set for major banks.

The Finance Ministry does not know how the Trump administration will position itself in Basel III talks.

The 2010 Dodd-Frank Wall Street reform law was designed to prevent a repeat of the 2007-09 financial crisis and subjects banks to greater oversight and expands regulation of derivatives.

(Reporting by Matthias Soboloweski; writing by Erik Kirschbaum)

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