CEO Vikram Pandit speaks at Buttonwood Gathering.

Today, CEO Vikram Pandit addressed The Economist's Buttonwood Gathering, saying that some Basel banking regulations may negatively impact financial inclusion and global economic recovery:

"...In many respects--particularly on higher capital--Basel is headed in the right direction. In other respects, it is making some of the problems worse. Pro-cyclicality, limits to financial inclusion, continued unlevel playing fields, and curbs on aggregate demand are all likely consequences of Basel as it now stands. These issues can be addressed--but doing so will take honesty and courage from all concerned..."

Pandit also spoke about the need for global regulatory coordination and for a financial system that serves all participants.

Click here to read the full speech.

Click here to watch the speech.