On 2 December a Directive came into effect amending the Capital Adequacy Directives11.
- The directive specifies the conditions for including hybrid capital instruments in core capital.
- The Directive sets out new rules for monitoring and managing major positions of credit institutions.
- With regard to supervision of credit institutions whose parent entity is located in a third country, the competent authorities should be able to cooperate in colleges of supervisors. The Committee of European Banking Supervisors should, where necessary, adopt guidelines and recommendations to enhance the convergence of supervisory practices.
The implementation deadline of the Directive is 31 October 2010.