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EC issues CRD IV ultimatum on 4 EU countries

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EC issues CRD IV ultimatum on 4 EU countries

TheEuropean Commission requested Belgium, Latvia, the Netherlands and Slovakia tofully implement the new Capital Requirements Directive or CRD IV, which setsout rules on risk management and capital buffers, among others.

TheEC also asked Belgium and Slovenia to fully implement the Bank Recovery andResolution Directive, which provide for a "bail-in" mechanism whereshareholders and creditors of banks on the verge of insolvency pay their shareof the costs.

Thecommission gave the countries a deadline of two months, or they may be referredto the EU Court of Justice, according to an April 28 news release.