This snapshot, taken on 03/07/2011, shows web content selected for preservation by The National Archives. External links, forms and search boxes may not work in archived websites.
The Financial Conglomerates Directive introduces specific legislation for the prudential supervision of financial conglomerates and financial groups involved in cross-sectoral activities to foster the stability of the financial system.
The main objectives of the Directive are (I) to ensure that financial conglomerates are adequately capitalised, preventing the same capital being counted twice over and so used simultaneously as a buffer against risk in different entities, (II) to introduce methods for calculating a conglomerate's overall solvency position, and (III) to provide for the establishment of a single lead regulator for financial conglomerates, rather than multiple lead regulators as at present, thereby reducing regulatory duplication.
