COLLATERAL DIRECTIVE
May 1st, 2002
Keith NuthallMEMBER States of the European Union have 18 months to implement a new directive on collateral, which will harmonise national laws limiting credit risks in financial transactions through the posting of securities and cash as collateral.In Brussels-terms, the new European legislation has been passed speedily, having been first tabled by the European Commission last March.Welcoming its final approval by the European Parliament, EU internal market Commissioner Frits Bolkestein said: "We will now at last have a clear framework of rules for collateral and ...
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