Basel Committee doesn’t have the last word, vows Othmar Karas, MEP

European Parliament’s rapporteur for CRD IV suggests Basel III will hit European banks hardest and adjustments will be needed when the standards are transposed into European law


The Basel Committee on Banking Supervision doesn't have the last word on how Basel III should be implemented, says a senior politician who will be heavily involved in the incorporation of the new capital and liquidity standards into European law.

In an interview with Risk, Othmar Karas, an Austrian member of the European Parliament and its rapporteur for the fourth set of amendments to the capital requirements directive (CRD IV), says the expected completion of the Basel III package in December

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