ECONOMY - FINANCE - BUSINESS / Banks

Commission submits reform faithful to ‘Basel III’ agreement and adapted to specificities of European banking sector

Brussels, 27/10/2021 (Agence Europe)

The new legislative package that the European Commission tabled on Wednesday 27 October aims to faithfully include in the EU’s banking prudential rules the still outstanding rules stemming from the ‘Basel III’ agreement ratified at the end of 2017 (see EUROPE B11921A20), while taking into account the specificities of the European banking industry, which finances three quarters of the EU economy.

In 2019, the EU legislator adopted a large part of the ‘Basel III’ agreement on risk...