Vote on Prudential requirements for credit institutions and investment firms: - report Othmar KARAS (EPP, AT)

Type: News   Reference: 93353   Duration: 00:00:43  Lieu: Strasbourg, France - European Parliament
End production: 16/04/2013   First transmission: 16/04/2013
From 1 January 2014, EU banks will be stronger. Changes voted by Parliament on Tuesday will cap banker's bonuses to curb speculative risk-taking, step up capital provisions to help banks cope better with crises and stiffen supervision. This EU banking reform package, the most comprehensive so far, should also spur growth, by making it easier for banks to lend to small firms that drive the real economy. "The new set of rules is the farthest-reaching banking regulation in the EU to date. The new single rule book for all its 8,200 banks is the foundation on which the EU banking union must be built. The single supervisory mechanism will be the roof. We must now add the walls: the resolution framework for banks and deposit guarantee schemes. As legislators, we do not regulate salary levels. The rules on bankers' bonuses will instil fairness and transparency and contribute to a change in banking culture", said lead MEP Othmar Karas (EPP, AT). The package consists of a Capital Requirements Regulation (CRR), and a fourth edition of the Capital Requirements Directive (CRD IV). The CRR introduces the first single set of prudential rules for banks across the EU. It applies directly to all banks in EU member states. It should help to ensure that the Basel III international standards for bank capital adequacy are fully respected in all EU member states. The CRR was approved by 595 votes to 40, with 76 abstentions.

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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 Exterior shot of the EP, Strasbourg, France. 00:00:05
00:00:10 EP Vice-President Alejo VIDAL-QUADRAS opens the vote on Prudential requirements for credit institutions and investment firms, report by Othmar KARAS (EPP, AT). Cutaway on Rapporteur. 00:00:10
00:00:20 Final vote on the legislative resolution by roll-call vote, ambience shots during the vote. 00:00:16
00:00:36 Results of the vote on screen: the CRR is approved by 595 votes to 40, with 76 abstentions. Rapporteur KARAS smiles. 00:00:07
00:00:43 END 00:00:00
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