More delays in EU and UK
LONDON AND BRUSSELS -- More delays are likely in the drafting of key Basel II implementation regulatory text at both the EU and UK levels, according to industry and regulatory sources.
The Capital Adequacy Directive is being completely restructured, and will take the form of a ‘recast’ version of the 1993 Capital Adequacy Directive as well as the Consolidated Banking Directive of 2000. This recasting technique, according to an EU source, enables substantive amendments to existing legislation to be proposed and approved without introducing a self-standing amending directive. "Rather, the means of amendment is the introduction of the proposed amendments directly into the
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