The ECAF follows the definition of a default event given in the Capital Require ments Directive ( CRD ) ( ) .

The EU Council reached a political agreement on a new directive , known as the Transparency Directive , in May 2004 .

The ECAF follows the definition of a default event given in the Capital Requirements Directive ( CRD ) ( ) .

At the European level , the new EU capital adequacy framework , which will be based on Basel II , will be introduced into EU legislation by amending the Codified Banking Directive and the Capital Adequacy Directive .

In this context , it introduced a number of additional elements taking into account the specificities of the EU setting .

Another type of bacteria (genus Nitrospira ) converts nitrite into nitrate, a less toxic substance.

This Directive provides EU based credit institutions with the freedom to supply financial services throughout the European Union via the establishment of branches and on a cross border basis .

At the EU level , the final agreement , reached in December 2001 , on the amendments to the money laundering Directive will imply a substantial

The northern Atacama Desert contains great mineral wealth, primarily copper and nitrates.

of the Directive .

of the Directive ..

A deadline of 10 August 2000 was set for the implementation of the Gas Market Directive in the Member States of the EU .

The existing Directive no longer provides an effective framework for undertaking investment business on a cross border basis in the EU .

No. 12 13 14 15 16 17 18 19 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 , 55 56 57 58 59 60 61 62 63 64

cf. recital 5 of the proposed directive and Section 5.1 of the explanatory memorandum to the proposed directive .

10 Denmark 11 12 13 14 Portugal France Italy EU Council 15 EU Council 16 EU Council 17 EU Council

The proposed Directive will harmonise the initial authorisation and operating conditions for investment firms established in the EU .

( ( 7 ) Recital 9 of the proposed directive .

52 ( ) Recital 6 to the proposed directive .

EU legislation

EU enlargement

EU Council

Institutions of the EU

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EU enlargement and the euro

Euro area enlargement

EU Council Legally speaking , there is only one EU Council

They show images of the European Union or of Europe and symbolise the unity of the EU .

Currency of each other EU Member State All currencies combined EU Member EU Member EU Member EU Member State State State State currency currency currency currency Total USD JPY CHF Remaining currencies combined Euro

Annex I , point ( 2 ) and Annex II , point ( 2 )) In 2006 the Commission and CEBS set up the Capital Requirements Directive Transposition Group ( CRDTG ) in 2006 to facilitate a coherent implementation and application throughout the EU of the CRD .

Rights of AIFM under the Directive

51 ( ) Article 129 of the Banking Directive .

( 74 ) Article 4 of the Banking Directive .

Financial Research

EU institutional framework

EU central banks Photos

EU Neighbouring Regions

EU banking structures

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Originator EU Council

115 cooperation among financial regulators with the purpose of achieving an effective supervisory framework across the EU .

M6 Currency of each other EU Member State All currencies combined EU Member State currency Total USD JPY CHF EU Member State currency EU Member State currency EU Member State currency Euro Currencies other than EU Member State currencies combined Remaining currencies combined

14 A broader and deeper EU internal market clearly remains a priority in the pursuit of effective competition in the energy market and the implementation of the Services Directive15 .