EC’s Capital Requirements Directive deemed “detrimental” to energy trading
The revised proposal for the Capital Requirements Directive (CRD) presented by the European Commission (EC) on July 20 has sparked serious concerns among energy companies, traders and exchanges
The European Council and the European Parliament signed the CRD for credit institutions and investment firms on Wednesday last week. The EC announced that banks are now expected to hold a capital conservation buffer, which amounts to 2.5% of risk-weighted assets, applies at all times and has to be met with capital of the highest quality.
"The [CRD] proposal will require banks to hold more and better capital to resist future shocks," the EC said in a statement.
Under the revised CRD, the
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