Press Release: Financial services: Commission launches second consultation on new capital adequacy framework

On 5.2.01, the European Commission launched a second round of consultations on a new capital adequacy framework for banks and investment firms. Financial service practitioners, market analysts, consumer groups, Member States and other interested parties were invited to comment on a consultative paper by the end of May 2001. Their contributions will help shape the proposals for a new EU capital adequacy framework planned for the autumn of 2001. The Commission's work complements efforts by the Committee on Banking Supervision of the Bank of International Settlements (known as the Basel Committee) to introduce a similar framework for banks at the international level.