Brussels, 20/01/2009 (Agence Europe) - The Ecofin Council states in conclusions adopted on Tuesday 20 January that the capital injection into the banking sector by a number of member states at the height of the financial crisis in no way modifies the rules on own fund requirements. The conclusions say: “The Council today confirmed that the provision of capital to the banking sector is not intended to create new, higher statutory capital requirements for the banking sector. The capital requirements of banks should continue to be assessed on a case-by-case basis, in line with existing EU regulation, based on their individual risk-profile and rigorous stress-testing. It should be recognised that capital provides a buffer both to withstand the challenging economic conditions and to maintain lending to creditworthy borrowers”. EU finance ministers support future amendments to the international regulations on capital requirements and on international accounting standards in order to ensure attenuation of the excessive consequences arising from the pro-cyclical nature of the rules in question. The Council pledges to continue to monitor the implementation of the rescue packages over the coming months and invites the Commission to make recommendations on how to enhance their effectiveness. (M.B./transl.jl)