Basel III liquidity rules won't be watered down in Europe, says ACP's Nouy
Autorité de Contrôle Prudentiel secretary-general Danièle Nouy says looser language in the CRD IV draft won't ultimately mean weak rules in Europe
The Basel III liquidity rules will not be diluted in Europe, says Danièle Nouy, secretary-general of the Autorité de Contrôle Prudentiel (ACP), despite less prescriptive language in the latest draft of the Capital Requirements Directive (CRD IV) – legislation that will determine how European banks implement the new Basel capital and liquidity standards.
Nouy, a former secretary-general of the Basel Committee on Banking Supervision, says the European rule is a starting point that may be refined
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