EU expected to report on Cad 3 progress next week

The commission, the EU’s executive body, will show how its third capital adequacy directive, or Cad 3, should look like, assuming the Basel II capital accord comes into force in late 2006 with no significant changes to the shape currently proposed by global banking regulators. Commission officials declined to comment on the details.

But regulatory sources said the commission’s Cad 3 proposals are likely to differ from Basel II in one or two respects, in particular on the question of the use

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