Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-086"
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"en.20090506.3.3-086"2
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"Mr President, as a first response to the financial crisis of August 2007, the adoption of this directive should not be delayed. In view of the circumstances, it should be applied with prudence, in order to avoid U-turns, and it should be accompanied by a more ambitious revision, in accordance with international developments.
The financial institutions require a solid capital base and need to compete in a balanced way through a harmonised definition of own funds, in particular of hybrid instruments, and a proportionate strengthening of the management of major risks. It is vital to bring in more transparency and align the interests of issuers and investors in securitisation processes. Retaining at least 5% of securitised products on the balance sheet, avoiding multiple use of such products and stepping up the due diligence of investors are steps in this direction. Creating colleges of supervisors for cross-border groups and making the role of the Committee of European Banking Supervisors more robust are moves towards more fully integrated European supervision."@en1
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