08 OCT 2010
By Nikki Tait in Brussels | Financial Times
European lawmakers are urging European Union policymakers in Brussels to “fine-tune” the new Basel rules on bank capital, which were agreed internationally last month, when applying them to EU institutions.
The Basel III framework was hammered out by the Basel Committee on Banking Supervision, the global rule-making body, in September, and the new standards are seen as one of the most important regulatory reforms since the financial crisis.
They will be implemented in Europe via a legislative package known as CRD IV, which the European Commission will propose either later this year or early in 2011. That will require approval from both the EU’s 27 member states and the European Parliament.
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