EU Commission sets out its stall on CAD

The EU Commission published a feedback document on its website today on the responses to its third consultation paper on revisions to the Capital Adequacy Directive (CAD).

The EU Commission plans to publish its final proposed text for the CAD this summer, after the final Basel II document is released in June. The draft proposal will then go to the EU parliament for debate and passage. European firms are expected to comply with the EU CAD – which covers both banks and investment firms – by the end of 2006. The EU Commission reiterated its commitment to this timetable in the feedback statement.

The document clarifies the EU Commission’s position on a number of

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