Postponement of vote on review of capital requirements directive

Brussels, 17/04/2009 (Agence Europe) - “As Parliament's rapporteur I want to reach an agreement between all three EU institutions before the end of this legislative term. I welcome and support the decision to postpone the vote on the Capital Requirements Directive to the May plenary session,” explained Othmar Karas (EPP-ED, Austria) in a recent press release: '”In several trilogue meetings we have already found a common ground on most questions. Now only the issue of the retention requirements on securitised products remains to be negotiated.” The Council wants banks to hold cash reserves of 5% of the assets on their balance sheets. The European Parliament's economic and monetary affairs committee agrees, but also suggests an alternative whereby banks would have to provide an explicit and unconditional guarantee that they meet due diligence obligations (see EUROPE 9787 and 9858). (M.B./transl.fl)