Technical note on regulation: Banking package 2021
The European Commission (EC) has published the Banking Package 2021.With this set of rules ends the implementation of the Basel III framework in the EU. 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. This package is composed of three proposals that complete the reform of banking regulation: i) CRD VI which amends CRD IV; ii) CRR III, which amends CRR; and, iii) a separate legislative proposal in the area of resolution (the "daisy chain proposal“), which also amends CRR.