EU Commission publishes "final" CAD text

The European Commission released its final version of the legislative text that will implement the Basel II framework within the European Union at the end of last week.

The text, which is broken down as amendments to the Capital Adequacy Directive and the Codified Banking Directive, will now be put before the EU Parliament for passage. The text had been expected to be published before the end of July, although there had been speculation that it would be delayed due to internal wrangling within the European Commission.

The EU Commission has decided to propose an implementation structure that is in keeping with the proposals in the Basel II framework—that is

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