Op risk capital charges to apply in expanded European Union
Brussels - The terms of the European Union’s proposed new capital adequacy rules for banks and investment firms will apply to all member countries of an expanded EU, officials with the European Commission, the EU’s ruling body, said in November.
The EU’s third capital adequacy directive (CAD 3), which is closely modelled on the complex Basel II bank accord proposed for large international banks, would require all banks and investment firms within the European Union to set aside reserve capital to guard against operational risk from 2005.
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