European legislators agree sweeping rules for banking sector reform
The European Commission and the European Parliament last night reached agreement on a lengthy piece of legislation aimed at raising the amount of Tier I capital banks must hold, as well as a number of measures related to increasing transparency and changing the way individual bankers are rewarded.
The legislation – called the Capital Requirement Directive IV (CRD IV) – aims to make financial institutions in the EU compliant with Basel III banking regulations, but in some cases goes even further
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