Speaking at the British Bankers’ Association conference today, Botin says UK regulation can create an environment that is stricter than in other countries and this could place UK banks at a disadvantage.
She says that capital requirements should be determined by considering the risk profile of individual banks and should be defined in the context of other regulatory measures such as liquidity.
Botin says we need to ensure that the impact of regulatory measures on competition is not too high.
She says: “We need to defend the principle that all UK banks, and all global banks, operate on a level playing field.”
When asked what she has found most surprising about the UK since moving here several months ago, Botin answered the regulatory environment.
Botin says: “I understand that the UK economy has suffered more than others in recent years, but we need to find the right balance and ensure competition is not jeopardised.”