EU Commission outlines region's Basel II impact
More than 1,000 investment firms and 9,322 banks will implement the EU's capital adequacy directive, according to Patrick Pearson, head of banking and financial conglomerates unit of the internal markets division of the EU Commission.
Speaking at the 12th annual City of London Central Banking Conference yesterday, he also noted that the EU has begun its fourth quantitative impact study, and that the results will be available in two or three months.
In the meantime, he released some tantalising statistics. Although he said research was ongoing, at the moment it seems regulatory capital within the EU will be reduced by an average of 5.3% for banks. Over time, that number could increase as firms “make better use of credit risk
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