Newsletter November 08: Supervisors want 80% cut in EU national discretions

LONDON – Some 80% of the 152 national discretions currently available to EU countries under the Capital Requirements Directive will be eliminated if the European Commission follows advice it has just been given by supervisors. The large number of national discretions and options are a deeply resented by many bankers because they create an unlevel playing field and undermine the goal of a single financial market across the 27-country EU bloc.