The European Commission has called for a quick finalisation of the proposals on the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR) which also cover the single rulebook for banks’ financial services. The single rulebook sets out to harmonise fully the different regulatory standards across the European Union. The European Banking Federation points out that the effectiveness of the Single Supervisory Mechanism largely depends on the single rulebook, two key building blocks of the Banking Union which will enhance the financial stability of the European banking sector. The flexibility of national authorities to set higher capital buffers, which is at present under intense discussion between the co-legislators, will have a material bearing on the single rulebook ambition of the Commission.
Addressing guests, Mario Nava, Acting Director, Financial Institutions, left with Robert Priester, EBF Deputy Chief Executive, right
By Gonzalo Gasos, Senior Adviser – Banking Supervision : G.Gasos@ebf-fbe.eu