| The European parliament approved first reading | ||||||
The approval of a pan-European legal framework for the use of collateral will provide easier access to funding for corporates and reduce credit risk for banks. Despite French opposition, the Ecofin Council has endorsed the EU collateral directive.
This directive has been a priority for the European Commission’s financial services action plan over the past year. It will assist in the development of the European capital markets by making cross-border activity legally secure and less complicated.
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