Brussels, 11/05/2016 (Agence Europe) - On Wednesday 11 May, the European Parliament approved the extension, from the end of 2017 to the end of 2020, of the exemptions to certain banking prudential rules currently enjoyed by traders in raw materials.
Under the CRR Regulation (575/2013), which lays down the requirements applicable to credit establishments and investment companies, traders in raw materials already enjoy a derogation to the prudential rules on major risks and own funds until the end of 2017.
The European Commission is to make proposals for a specific prudential regime for investment companies in the meantime. As this work has hit a few hold-ups, traders in raw materials will be covered by all prudential requirements of the legislative package (CRD-CRR) with effect from January 2018. (Original version in French by Mathieu Bion)
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