3 December 2003
The Basel Committee, on banking supervision, is expected to finalise proposals for updating the current regulatory capital requirements for internationally active banks, by no later than mid-year 2004. For implementation in the European Union, this will require a new Capital Adequacy Directive, CAD3, to overwrite the existing rules and to extend the scope of the new Basel regime to all credit institutions and investment firms.
This consultation document lays out key questions and issues as the Treasury currently sees them. These issues are not exhaustive and we therefore welcome comments on any other matters relating to CAD3, particularly from those interested parties not hitherto engaged in the Basel Process. It is important to ensure that we have a good understanding of all the potential issues and linkages before EU Council Working Group negotiations process starts.
The document is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.
For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Internal links
PDF file of the summary of responses on CAD3 (115Kb)
Press notice 03/12/03, ´Consultation on new EU Adequacy Directive´
External Links
For further information on the Basel Accord, please visit the Basel Committee’s website.
For further information on the European Commission’s proposals for CAD3 please visit their website.