On Friday 29 March, the European Commission adopted a decision recognising that Argentina has requirements equivalent to those of the EU in terms of the prudential and supervisory framework for the purpose of credit-risk weighting.
This decision, based on an opinion from the European Banking Authority, will enable EU banks to apply a more favourable and proportionate capital treatment for exposures to credit institutions and certain public sector entities located in Argentina.
"This decision strengthens the single rulebook and benefits EU banks with global operations", said Financial Services Commissioner, Valdis Dombrovskis, in a statement.
In specific terms, the Decision amends three Annexes (Annexes I, IV and V) to the Commission's implementing Decision (2014/908/EU) of December 2014 as regards the lists of third countries and territories whose supervisory and regulatory requirements are considered equivalent for the purposes of the treatment of exposures in accordance with Regulation 575/2013.
See: http://bit.ly/2WCVFER. (Original version in French by Mathieu Bion)