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By Elisa Alonso Sanz*
For many, Basel reforms are the single most important regulatory restructuring that will be made in the wake of the financial crisis. This article provides an overview on how the Basel Committee prudential regulation has been reflected in the European Union, including Basel II enhancements and Basel III, and explains its transposition into Luxembourg law. It also describes the key elements of Basel III and its main challenges for the Luxembourg banking sector.
The avalanche of regulation and its Luxembourg transposition
2010 will be remembered as another year of high regulatory activity. In Luxembourg, regulators have been extremely busy, transposing into national law the second and third...
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