Banking Package (CRR III/CRD VI)
In October 2021, the European Commission (EC) published the first draft of the Banking Package, a set of reforms to the prudential regulatory framework with the aim of strengthening banks' resilience to potential future economic shocks, as well as contributing to the recovery from the COVID-19 pandemic and the transition to climate neutrality. This package contains the proposed amendments to the Capital Requirements Regulation (CRR III) and the Capital Requirements Directive (CRD VI). Between April and May 2024, the proposals were approved by the European Parliament (EP) and the Council of the European Union (EU), including new requirements related to crypto-assets and shadow banking. Finally, the final versions of these amending rules were published in the Official Journey of the European Union (OJEU) on 19 June 2024.
CRR III will apply from 1 January 2025, except for certain articles mainly related to EBA mandates, which will apply from July 2024. As for CRD VI, Member States have 18 months to transpose the Directive into national law, and once this transposition is completed, CRD VI will enter into force on the following day and will apply from 11 January 2026.
For more information, please visit: https://www.managementsolutions.com/e...