Regulator urges UK banks to look hard at EU capital proposals

Bankers should comment on the draft sooner rather than later, Financial Services Authority (FSA) chairman Howard Davies said. The FSA is the UK’s chief financial market watchdog.

The commission plans to publish a paper on progress with its third capital adequacy directive (Cad 3) about a month after the Basel Committee on Banking Supervision issues key documents relating to the complex Basel II capital accord.

Cad 3 is closely modelled on the Basel II proposals and the draft text will be included

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