EU Proposes Changes to Banking Rules
The Associated Press
October 1, 2008
CBNNews.com - BRUSSELS, Belgium - European Union regulators are setting out long-term regulatory changes to stabilize European banking and improve supervision for banks that operate across national boundaries.
The European Commission warned Wednesday that its proposals would not solve the current banking meltdown but should strengthen market confidence and banks' resilience when they come into effect in two years' time.
The new rules would restrict how much banks could lend to one borrower, give financial supervisors a clearer view of the business banks do across Europe and fix new rules to assess the risk complex securitized investments - such as those based on the U.S. subprime housing market that triggered the current credit crisis.
Copyright 2008 by The Associated Press. All Rights Reserved.
CBN IS HERE FOR YOU!
Are you seeking answers in life? Are you hurting?
Are you facing a difficult situation?
A caring friend will be there to pray with you in your time of need.
