EU CAD beta lowered – but only for some

Michel Martino, an official in the Banking and Financial Conglomerates Unit in the Internal Market Directorate at the EU Commission, told a London conference at the beginning of July that the beta for the trading and sales business line would be “transitionally” lowered to 15% until 2012. This benefit would be available to investment firms, as defined under EU legislation. However, banks could only qualify for this lower beta if 50% or more of their income came from their trading and sales

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