EU Welcomes Basel III Revisions
On 7 January 2012, the EU Commission published a statement by Michel Barnier welcoming the agreement of the Basel Committee to the revision of the Liquidity Coverage Ratio (LCR) and its gradual phasing-in between 2015 and 2019.
The Commission’s approach to liquidity issues within the context of CRD4 is to initiate a reporting period at the end of which the European Banking Authority will provide its findings in the form of a report. This will be followed by a delegated act which will define the details of the LCR. The Commission regards this approach as being “fully valid” with the revisions to the LCR made by the Basel Committee and calls upon the EU Parliament and the Council to conclude the trilogue negotiations over CRD4 in the coming weeks.Contact Us