EC expected to apply output floor at group level only

‘Parallel stacks’ proposal unlikely to appear in first draft of CRR III, due next month  

The European Commission is expected to recommend implementing the Basel Committee on Banking Supervision’s output floor on internally modelled capital requirements at the group level only – which would break the bloc’s tradition of applying prudential rules directly to subsidiaries, and hand banks a major win over the majority of national regulators.

The EC’s college of commissioners is scheduled to discuss the adoption of the third capital requirements regulation (CRR III) – which will

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