Europe risks isolation from Basel

Author: | Published: 17 Nov 2008
The Capital Requirements Directive now has a rather arbitrary ticklist for banks

The European Commission has rushed out its amendments to the Capital Requirements Directive (CRD) without adequate industry consultation, and risked isolating European banks in the process.

"The new rules apply to EU credit institutions only, and that could be a disadvantage," said one capital markets partner in London, "globally there is not a level playing field".