CRD deadline fears
BRUSSELS AND LONDON – Concerns about the timing of the EU Capital Requirements Directive (CRD) are mounting as it is becoming clearer that delays – both due to procedural problems and disagreements related to the content of the directive – are likely to make it difficult for member nations to implement the Basel II programme by the January 1, 2008 deadline.
The CRD must be translated into all the EU’s working languages now that there are 25 member states, but so far only a handful of translations have been posted on the European Commission’s website. The remainder of the translations for the original EU countries are expected to be posted at the end of March, while the translations for the new member states are not due until the end of June. MEP
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