IFRSs help improve bank regulation in Europe

  • European Union (old) Image

18 Jun 2007

In its 2006 annual report, the Committee of European Banking Supervisors acknowledges that "the adoption of the Capital Requirements Directive (CRD) in June 2006, together with the introduction of International Financial Reporting Standards (IFRS), provides CEBS with a unique window of opportunity to promote greater consistency in supervisory approaches across the EU and the European Economic Area (EEA)." The CRD implements the Basel II capital adequacy framework in the European Union (EU).

The new framework harmonises capital requirements for credit institutions and investment firms and encourages them to improve their risk management processes. Click to download 2006 CEBS Annual Report  (PDF 1,903k).

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.