The ECB strongly believes that more ambitious reforms are needed for the euro area and it is convinced that the Trialogue between the Council, the Commission and the Parliament will permit the Parliament to significantly improve the texts that were presented to it. This is much more than a simple procedural concern. Stronger economic governance is essential to support the fundamental construction of EMU.
The supervisory guidance relating to requirements for calculating risk-based regulatory capital under the advanced approaches updates and expands on proposed supervisory guidance issued in 2003 and 2004; both of those documents were companion pieces to the 2003 Basel II advance notice of proposed rulemaking.