18 April 2019

EU banking reform package: ready for implementation

On 16 April 2019, the European Parliament adopted an extensive set of legislative measures referred to as the “banking reform” or “CRR II” package. The texts have been agreed with the Council of the EU, which is set to formally adopt the package soon. The banking reform package aims to complete regulatory reforms initiated after the financial crisis. The wide-ranging changes to the existing capital requirements and resolution framework will have a significant impact on banks in the EU, including on their risk modelling, funding structure and reporting systems. In some instances, the requirements include the raising of additional own funds or eligible liabilities. However, banks have already had several years to prepare for most of these changes. Moreover, while the package is set to enter into force by summer 2019, most provisions will apply 18 months to two years later, with some applying sooner.

Click here for our booklet highlighting the key changes to the capital requirements and resolution framework.

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