Bowles: Strengthening EU banks to get Europe back on the path to growth and trade

Sharon Bowles MEPSharon Bowles MEP, Chair of the European Parliament’s Economic and Monetary Affairs Committee, today welcomed the vote in favour of the Capital Requirements Directive and Regulation, which implements Basel III – the international accord which sets global standards for banks – into EU law. 

While in recent weeks the hotly politicised subject of capping bankers’ bonuses has dominated the headlines this measure is in fact part of a much larger raft of legislation which will increase banks’ resilience to future financial crises by requiring them to have higher capital buffers to absorb losses and hold more easy-to-sell liquid assets. In addition, the regulation and directive introduce various other measures to strengthen corporate governance and transparency, and encourage growth and lending to the real economy in the EU.

Sharon Bowles MEP said: Continue reading