The European Parliament's economic affairs committee is due to vote on cross-party compromises, seen by Reuters, on a draft law which implements remaining elements of Basel III, a global accord which forces banks to hold more capital to cope with market shocks unaided by taxpayers.
This is in line with recommendations from the global Basel Committee of banking regulators in December. Amendments also require renumeration policies at banks should be aligned with their transition plans to address environmental, social and governance risks over the short, medium and long term. They should be "sufficiently diverse as regards age, gender, and geographical and educational background" according to a report from Jonas Fernandez, the committee member leading the negotiations on the draft law in parliament.