Jumbo liquidity hit by a big freeze | Old product, new law | Investors force the pace
With no fanfare, no speeches, no toasts or celebratory dinners, the European Union has transformed the covered bond world.
On September 28, a plenary vote in the European Parliament led to the adoption of the Capital Requirements Directive (CRD), the EU’s draft legislation that will implement Basle II. At the time of writing, approval by the EcoFin Council of economics and finance ministers was expected imminently.
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