| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/01/893 (25.6.01) |
| Publication Date | 25/06/2001 |
| Content Type | News |
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On 25 June 2001 the European Commission welcomed an announcement from the Basel Committee on Banking Supervision that, following responses to its proposals to revise the 1998 Capital Accord (announced January 2001,see IP/01/60), it will extend its timetable for revision and implementation of the new Accord to 2005, with an additional round of consultation in early 2002. The Commission received a large number of responses to its own consultative paper on a new capital adequacy framework for banks and investment firms (see IP/01/160), also launched January 2001, which was designed to be considered in parallel with that of the Basel Committee. It is currently performing a thorough review of all comments received. The Commission remains committed to adopting a proposal for amending the EU framework shortly after the finalisation of the new Capital Accord by the Basel Committee (due during 2002) and believes that, in light of the Committee's extended timetable for consultation, 2005 represents a realistic date for implementation of the new Accord. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/01/893&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Internal Markets |
| Countries / Regions | Europe |
