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EU Regulators Should Face Basel Capital-Rule Limits, Karas Says 

September 22, 2011

The European Union should limit national regulators' ability to force banks to hold more capital than required under global rules, the lawmaker in charge of securing adoption of the standards in the European Parliament said.

Curbs on supervisors powers are justified by the need to ensure a level playing field in how the capital rules, known as Basel III, are applied in Europe, Othmar Karas, an Austrian lawmaker responsible for drawing up the European Parliament's opinion on the measures, said in an interview.

Full Article from Businessweek

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