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European Commission publishes consultation results
Brussels - Over 100 written responses to a consultation on a new framework on capital requirements for banks and investment firms have been published on the European Commission's website.
The consultation exercise was carried out at EU level directly by the Commission and at national level it was co-ordinated by the relevant supervisory authorities. It was based on an early draft of the future proposal for a Directive. The consultation period ran from 18 November 2002 to 21 February 2003 and primarily involved representative bodies and trade associations from the financial services and other sectors.
According to a statement released with the responses, the responses show continuing support for the Commission's approach together with a range of suggestions for improving the proposals. Important contributions were received from the financial services sector, as well as other sectors including small and medium size businesses and national authorities. The European Commission's services will now consider the results of the consultation before issuing a feedback statement as part of its third Consultation Paper in June.
The majority of the comments received have now been published at:
http://europa.eu.intBaselAlert.com
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