A proposal by the European Central Bank (ECB) to allow European regulators some scope to apply or relax certain aspects of Basel III as part of macro-prudential policy has met with a mixed response from central bankers.
The proposal, set out in a January 25 opinion paper, is seen by some as a compromise between those who want the fourth Capital Requirements Directive (CRD IV) – which will implement Basel III in Europe – to be a single set of rules applicable to all, and those who want national r
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