On Wednesday 30 April, the Member States’ ambassadors to the European Union (Coreper) are expected to approve, without amendment, the proposal for a regulation to make permanent the current liquidity requirements (net stable funding ratio or NSFR) for certain short-term securities financing transactions and ‘unsecured transactions’ (see EUROPE 13611/13).
During the examination of the proposal at technical level, the Polish Presidency of the Council of the EU noted strong support from national delegations. No country opposed the approval of the legislative text without modification, even if one of them should record its dissenting opinion in the minutes of the Coreper meeting.
The aim of the legislative proposal is to maintain, after the end of June, European rules that will, admittedly, deviate from the so-called ‘Basel III’ banking prudential standards, but will maintain a level playing field vis-à-vis the United Kingdom, the United States and Switzerland, three countries that intend to deviate permanently from international standards on this issue.
The Polish Presidency will then be in a position to negotiate a rapid agreement with the European Parliament as soon as the latter has adopted its position.
See the position of the Council of the EU: https://aeur.eu/f/glg (Original version in French by Mathieu Bion)