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ECON discussed the amendments made on the Capital Requirements Directive. Main issues included the way European supervision should be structured and the amount of the retention rate for securitisations.
MEPs made clear that the establishment of colleges are a temporary solution only on the way towards a European supervisory structure. The latter should probably be organised in a way reflecting the model of the European System of Central Banks.
MEPs do seem to find an agreement on the retention rate with regard to securitisation. Although it is yet unclear if this will be 5% or 10%, a solution is no problem in principle, ECON chair Pervenche Beres said. However, the proposed differentiation between ‘good’ and ‘bad’ products is likely to fail.
(For a full ECON report see here)