The Bundesverband deutscher Banken (BdB) welcomed the adoption of the Capital Adequacy Directive in Parliament implementing Basel II. “Our banks have prepared very well for Basel II in step with the timetable, said Manfred Weber, General Manager of the BdB. Against this background, Mr Weber said it was annoying that there were now some voices in the US suggesting that the US side was possibly intending to introduce Basel II later. However, no time should be lost in pressing ahead with the project as planned, also as a coordinated international effort.
Mr Weber added that the limitation of the comitology procedure at European level to the end of 2007 was unsatisfactory. “This approach falls short”, he said. “It is now up to the Parliament, the Council and the Commission to find a basic solution within the next two years as to how the comitology procedure can be continued”.
Press release
© BDB - Bundesverband Deutscher Banken
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