Washington, D.C., July 12, 2016 - The Institute of International Finance today released the following statement from President and CEO Tim Adams after the European Council released a statement regarding the Basel Committee's ongoing efforts to refine the regulatory capital framework.

"We welcome today's statement by the European Council on the importance of a risk-based regulatory capital framework. We agree that any further changes to that framework by the Basel Committee should be carefully calibrated based on quantitative analysis, avoid differentiating between business models and regions and, most importantly, not result in any significant increase in capital. Banks are critical to economic growth and job creation and disproportionate increases in capital requirements would unduly impair banks' ability to finance stronger growth."'

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The Institute of International Finance is the global association of the financial industry, with close to 500 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks. For more information visit www.iif.com .