Press Release: Charlie McCreevy, Commissioner for Internal Market and Services, welcomes the agreement reached in Council on the Capital Requirements Directive

The European Commission on 11 October 2005 welcomed the agreement by the Council of Economic and Finance Ministers to the European Parliament's legislative resolution on the Capital Requirements Directive for credit institutions and investment firms. The Directive, generally known as the Capital Requirements Directive but technically comprising two Directives, was to introduce a state of the art supervisory framework in the European Union which reflects the Basel II rules on capital measurement and capital standards agreed at the G-10 level.

• Primary Source

European Commission: Pre-Lex: COM(2004)486 http://ec.europa.eu/prelex/detail_dossier.cfm?CL=en&ReqId=0&DocType=COM&DocYear=2004&DocNum=0486

---