Negotiations on new bank rules between the European Parliament, Council of Ministers and the European Commission broke up without agreement tonight (19 February).
Officials were cautiously optimistic that, after more than a year of talks, a deal could be reached. However, that proved elusive and a further meeting has been arranged for 27 February.
“We are very close to agreement,” an official close to the talks said. “There still remain some issues to be resolved.”
The two sides are still struggling to find agreement on capital requirements and the level of bonuses bankers should be allowed to receive.
The capital requirements directive and regulation is the European Union's method of implementing global Basel III banking requirements.