The Economic and Monetary Affairs Committee adopted the Capital Adequacy Directive. MEPs’ approved the first reading report from Mr Radwan with 36 votes in favour and six abstentions taking on board numerous amendments and after compromises were reached amongst others on questions as internal group lending, the approach to covered bonds and minimum requirements for data history.
Regarding to Parliament's powers in 'comitology' the Committee decided that implementing powers for the Commission in this case should not come into force until Parliament's future role in this area has been clarified. With the constitutional process coming to a halt, MEPs hope an interinstitutional agreement can be reached to confirm Parliament's powers of “call back”.
The compromise texts adopted by the committee were also developed in the light of the rapporteur's discussions with the Council, with a view to the legislative procedure being completed at first reading.
The provisional results of the vote can be downloaded below.
Consolidated report
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