UK financial firms prepare for delayed CRD
London – UK financial services executives outlined their plans to cope with the prospect of delayed passage of the EU Capital Requirements Directive (CRD) – just two months after releasing a detailed timetable on Basel II implementation to financial services firms – at a conference in London in mid-March.
Hector Sants, managing director of wholesale and institutional markets at the FSA, noted that he doesn't expect the EU to finalise the Capital Requirements Directive until November this year, which would delay a second consultation paper into the first quarter of 2006. Originally, firms planning to implement the non-advanced approaches to credit and operational risk were expected to have their
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