Risk Europe : Wave of capital legislation to hit Europe
The European Union Capital Requirements Directive (CRD) is set to spawn three sequels, plus several spin-offs, before the end of this year.
This volume of legislation will change the face of banking regulation across the entire EU, said Kai Gereon Spitzer, a seconded national expert in the Internal Markets Directorate General at the European Commission, speaking at Risk Europe 2009 in Frankfurt yesterday.
The original CRD, finalised in 2006, was created to implement Basel II throughout the European Union. Considerable political jockeying between member states shaped that directive, as did an unusually interactive consultation process
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