The Commission also stressed the importance of CCP resolution plans
The European Commission has called for the
regulatory work of the Basel Committee to conclude by the end
of the year.
In a statement released Tuesday, European
Commission President Jean-Claude Junker and European Council
President Donald Tusk called for the Basel Committee to
conclude its regulatory work by the end of 2016.
"Financial regulatory reform needs to
remain high on the G20 agenda. The intended refinements of the
Basel III framework need to be subject to a thorough impact
analysis and capital requirements must not be significantly
increased in any of the major regions of the world. The work of
the Basel Committee, which has our support, should conclude by
the end of 2016 to ensure regulatory certainty," Junker and
Tusk said in a statement issued in advance of the G20 summit
that will take place in Hangzhou on September 4 and 5.
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