The European Banking Federation (FBE) welcomed the European Parliament’s vote adopting the Capital Requirements Directive (CRD) which implements Basel II in the European Union.
Guido Ravoet, Secretary General of the FBE, commented that the vote came as a relief to industry given the long negotiations on comitology in the past few weeks. “We continue to hold the view that a window of opportunity was missed in the CRD to put a more streamlined supervisory framework in place. Momentum must be maintained in the coming years to ensure that we move towards consolidated supervision in Europe“ he continued.
FBE expressed concern that there were still serious problems to be overcome in the implementation process with both industry and supervisors at a loss over how certain requirements in the Directive would work in practice. In this context, the FBE referred in particular to Pillar 2 (the Supervisory Review Process) under which supervisors assess whether banks’ internal systems and processes are appropriate.
Press release
© FBE
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article