EU Cad 3 paper delayed to mid-November

The Cad 3 proposals are modelled closely on the risk-based Basel II accord that global banking regulators want to bring into force for the large international banks of the leading economies by late 2006.

The commission, the ruling body of the European Union (EU), wants apply Cad 3 from the same date to all banks and investment firms in the EU, which by then could comprise 25 member countries compared with the present fifteen.

The Cad 3 working paper will be a follow-up to the overview of

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