All articles by Andrew Rosenbaum

French lessors raise serious concerns over latest capital requirement directive

Serious concerns have been raised by the French leasing industry over the implementation of the most recent version of the capital requirements directive (CRD) in French law. Sources last month pointed to major ambiguities in the new directive, which was adopted by the European Commission (EC) on 22 July 2009 and consists of amendments to the original CRD directives 200648EC and 200649EC. The amendments, as originally adapted into a French version by the Transposition Group at the Commission, included some unclear phrasing and some ambiguities that the Banking Commission in Parliament will have to clear up, said Alain Gautron, a partner at the Paris office of Norton Rose.