Memo: Statement by President Jose Manuel Barroso and Commissioner Michel Barnier following the European Parliament’s approval of new European rules to impose stronger prudential requirements on banks

In a statement, President Barroso welcomed the vote in the European Parliament on 16 April 2013 on the capital requirements directive, CRD4.

This is the foundation for the single rulebook for banks and will ensure that banks across the EU build up the necessary capital to absorb future shocks themselves, without asking the taxpayer for help. The rules are designed top put an end to the culture of excessive bonuses, which encouraged risk-taking for short-term gains.

• Primary Source

ESO: Background Information: Statement by Commissioner Michel Barnier following the agreement in trilogue on new European rules to impose stronger prudential requirements on banks http://www.europeansources.info/record/memo-statement-by-commissioner-michel-barnier-following-the-agreement-in-trilogue-on-new-european-rules-to-impose-stronger-prudential-requirements-on-banks/

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