Brussels, 26/08/2003 (Agence Europe) - The new draft directive on the minimum own resources to be held by lending institutions (the Basel II directive) fails to satisfy the European Parliament's rapporteur, Alexander Radwan, or fellow Bavarian CSU MEP Ingo Friedrich (see EUROPE of 2 July, p.11).
The European Commission has opened a third round of consultations over the document, due to be concluded on 22 October.
The two MEPs note that serious improvements will be needed ahead of the Basel...