EU states urge flexibility in Basel rules

The European Commission was urged in May 2011 to give European Union countries more flexibility when it tried to implement through legislation the new Basel III rules on banking capital across the 27-country bloc later in 2011.

Seven member states – including the UK – wrote to EU Internal Market Commissioner Michel Barnier, warning about the potential downside of using a 'regulation' to implement the global rules adopted in 2010 by the Basel Committee on Banking Supervision.

ESO: Background information: EU urged to go ahead with tougher bank rules http://www.europeansources.info/record/eu-urged-to-go-ahead-with-tougher-bank-rules/

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