EU needs harmonised definition for regulatory capital
The European Union (EU) Capital Requirements Directive should be amended so that regulatory capital could have a harmonised definition across all EU member states, said Kern Alexander, an academic at Cambridge University.
Alexander said there needed to be increased supervisory consolidation across Europe to deal with the systemic risks posed by banks with cross-border operations.
He also said British banks' regulatory capital should consist primarily of financial instruments, such as common
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