The Economic and Financial Affairs Council (ECOFIN) has discussed the proposals for a Directive and Regulation amending the Capital Requirements Directive (CRD4 and CRR). TheCyprus Presidency said negotiations were almost complete on CRD4 and should now focus on CRR. Outstanding issues include a proposed flexibility package (to allow Member States to impose higher standards), bankers' remuneration, crisis management, sanctions, the balance of power between “home” and “host” supervisors, corporate governance, and European Banking Authority (EBA) powers. ECOFIN also heard the Presidency wants it to agree a general approach on the proposals for bank and financial institution resolution and crisis management by December. Then negotiations with Parliament should aim for adoption of the proposal at first reading. (Source: ECOFIN Meets on CRD4 and Bank Resolution)
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ECOFIN meets on CRD4 and bank resolution
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