The European Parliament has published the provisional version of the text of the resolution it has adopted on the finalisation of Basel III. Among other things, the European Parliament:
- calls for dialogue and an exchange of best practices among regulators concerning the application of the principles of proportionality to be established at EU and international levels;
- calls on the European Commission (the Commission) to prioritise work on a “small banking box” for the least risky banking models, and to extend this work to an assessment of the feasibility of a future regulatory framework consisting of less complex and more appropriate and proportional prudential rules specifically adapted to different types of banking model; and
- stresses the importance of the role of the Commission, the European Central Bank and the European Banking Authority in engaging in the work of the Basel Committee on Banking Supervision (BCBS) and providing transparency and comprehensive updates on developments in the BCBS’ discussions; and
- stresses that the current revision should respect the principle stated by the Group of Governors and Heads of Supervision of not significantly increasing overall capital requirements, while at the same time strengthening the overall financial position of European banks.
The Parliament has instructed its President to forward the resolution to the Commission.
View European Parliament adopts resolution of finalisation of Basel III, 23 November 2016