avantage to support the European Banking Federation - Working Group on the Single Rule Book
Frederic Gielen, Partner, avantage has been appointed to the European Banking Federation Working Group on the Single Rule Book.
The single rulebook is a concept reflecting the idea that the same set of rules should apply in all Member States, on the maximum number of subjects possible. The European Commission intends to achieve it over time by means of three different work streams:
1) Removal of national options and discretions, which will be inserted into the CRD 4 proposal;
2) Binding technical standards, which will be developed by the European Banking Authority;
3) Ban on goldplating in respect of some specific areas combined with further clarification of the CRD and/or 'generalisation' of a 'goldplated' rule in other areas. This will also be inserted into the CRD 4 proposal.
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