The European Commission has today adopted a review of EU banking rules (the Capital Requirements Regulation and the Capital Requirements Directive). These new rules will ensure that EU banks become more resilient to potential future economic shocks, while contributing to Europe’s recovery from the COVID-19 pandemic and the transition to climate neutrality.
Today’s package finalises the implementation of the Basel III agreement in the EU. This agreement was reached by the EU and its G20 partners in the Basel Committee on Banking Supervision to make banks more resilient to possible economic shocks. Today’s proposals mark the final step in this reform of banking rules.
The review consists of the following legislative elements:
- a legislative proposal to amend the Capital Requirements Directive (Directive 2013/36/EU);
- a legislative proposal to amend the Capital Requirements Regulation (Regulation 2013/575/EU);
- a separate legislative proposal to amend the Capital Requirements Regulation in the area of resolution (the so-called “daisy chain” proposal).