The European Banking Federation takes note of the comprehensive package1 that the European Commission presented today to revise the regulatory framework for financial services in the EU.
The package includes, among others, a revision of the EU Capital Requirement Regulation and Directive, known as CRR and CRD=IV. It also includes proposals for the Net Stable Funding Ratio, the Leverage Ratio and an update of the EU Bank Recovery and Resolution Directive with the standard for Total Loss Absorbing Capacity. These are the final elements the EU needs to introduce in order to complete the G20 global post-crisis reform agenda.
Says Wim Mijs, Chief Executive Officer of the EBF:
«This package is about implementing global standards and about re-calibrating provisions where evidence has established that the earlier regulatory response was heavy-handed. It is not about de-regulation but about better regulation, reducing complexity and linking finance to growth as part of a stable framework«.
