The Commission has issued a discussion document aimed at a more co-ordinated EU response to the financial crisis. It also promises an amendment to accounting rules.
The Commission has issued a discussion document aimed at a more co-ordinated EU response to the financial crisis. Among its recommendations it says member states should make resources available for buying into banks, and national supervisors could allow banks to use existing capital buffers. It also promises an amendment to accounting rules "next week" to allow banks to switch assets to 'hold to maturity', rather than rapidly writing down their value under 'mark to market' rules.
Non-paper attached below
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