Bloomberg News

Spain, Netherlands Get EU Deadline for Capital Rules

September 29, 2011

(Corrects deadline in first paragraph.)

Sept. 29 (Bloomberg) -- The European Commission has handed Spain and the Netherlands a two-month deadline to implement agreed changes to the region’s bank capital rules.

The Dutch government has yet to adopt the necessary legislation to implement the measures, which include limits on the amount of loans a bank can make to a single business, the commission said. Spain needs to take “technical measures” to complete its application of the rules.

The changes were supposed to be implemented across the 27- nation European Union by Oct. 31 2010, the Brussels-based commission said in an e-mailed statement today.

--Editor: Peter Chapman

To contact the reporters on this story: Jim Brunsden in Brussels at jbrunsden@bloomberg.net;

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.


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