EBF has written to the Commission calling for a realistic entry-into-force date for CRD4/CRR. EBF is concerned that the US’s indefinite postponement of Basel 3 implementation will undermine EU banks’ competitive position with respect to their more lightly regulated US peers. It also points at the delay in the EU legislative process and at the fact that necessary EBA technical standards have not yet been issued. For these reasons, EBF proposes postponing the entry into force of the new prudential framework to 1 January 2014. (Source: International Competitiveness of Europe’s Banks)