Brussels, 06/03/2002 (Agence Europe) - On Tuesday adopted, without discussion, its common position on the draft directive on collateral. Presented in the framework of the Financial Services Action Plan, this directive clarifies the regulatory framework governing the use of cross-border collateral (property - such as securities - provided by a borrower to a lender) on wholesale financial markets. Among other things, it creates a Community system for constituting collateral, lays down the...