CAD IS FINALISED

The European Commission announced in late June that the Council and the European Parliament have both signed the Capital Requirements Directive for credit institutions and investment firms. Internal Market and Services commissioner Charlie McCreevy said: "This is the last step in a long process – discussions in Basel to update the G-10 level rules began in 1998. The implementation of the CRD will be good for the EU economy and good for financial stability, bringing benefits to

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