As the securitization industry enters the final leg of discussions before the 2007 implementation of the new Basel accord, there are still a number of issues to be worked out.

The new Basel Accord will be implemented in the European Union via the Capital Requirements Directive (CRD), which is slated to take effect on January 1, 2007.On Feb 28, the U.K.'s Financial Services Authority (FSA) issued its consultation paper on the proposed plans for the U.K. implementation of the CRD.

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