Dutch banks are now so profitable that finance minister Jeroen Dijsselbloem is says the leverage ratio – equity as a percentage of the balance sheet total – be raised to 6%, up from the current 4%, the Financieele Dagblad said on Friday.

In an FD opinion piece Dijsselbloem said the ratio should be raised because banks are notoriously vulnerable in poor economic times. His remark is unusual because it falls so far short from his own Labour (PvdA) party’s position which calls for an increase in the leverage ratio of at least 10%.

The global Basel-3 regulations call for a leverage ratio of only 3%. The current Dutch rate was set by Dijsselbloem himself.

With the general election set for 15 March, the finance minister can do nothing about the proposal at all in this parliamenatry term. However it is a good negotiating tool in the formation of the next government.

Capital requirements for banks were raised worldwide after the 2008 credit crisis. Raising the ratio means that taxpayers will not have to contribute again to the rescue of banks in the future, the FD said.