EU reveals plans for tougher rules for banks

The European Commission wants to impose more stringent rules on European Union banks in a bid to make the region's financial system more stable.

The commission said Wednesday that it wanted to amend its Capital Requirements Directive to force banks to retain 5% of the value of securitised funds and take steps to enhance their liquidity management.

"These new rules will fundamentally strengthen the regulatory framework for EU banks and the financial system," said Charlie McCreevy, the internal

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