Bankers in favour of paying global fee

By Patrick Jenkins in Davos and Tom Braithwaite in Washington

Published: January 30 2010 00:02 | Last updated: January 30 2010 00:02

Some of the world’s most prominent bankers have come out in favour of a global bank wind-down fund, a concession from the industry after weeks of fighting proposals for new taxes in the US and Europe.

Josef Ackermann, chief executive of Deutsche Bank, told the Financial Times on Friday : “To help solve the too-big-to-fail problem I’m advocating a European rescue and resolution fund for banks. Of course, the capital for this fund would have to come from banks to a large degree.â€