Sveriges Riksbank governor and European Central Bank general council member, Stefan Ingves, has hit out at calls for a common set of minimum regulatory capital rules for banks in Europe.

Ingves, who is also chairman of the Basel Committee on Banking Supervision and chairman of the Advisory Technical Committee of the European Systemic Risk Board, says the lack of a "common public purse" and "strong supervision" of banks on a pan-European basis makes calls for a level playing field for regulatory