Consumer Credit: Joint Position Paper of the European Credit Sector

27 January 2003

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The signatories of this joint position paper conclude that the proposed changes will not succeed in achieving the aim of a more transparent and efficient market as intended in the Commission proposal. Many aspects will prove impractical and appear to be unbalanced. The proposed rules will lead to a large number of formal requirements and an unnecessary amount of bureaucracy. Furthermore, the proposal does not take into account the current work underway in the Basel Committee.

Joint paper

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