European Union regulation | |
Text with EEA relevance | |
Title | on prudential requirements for credit institutions and investment firms |
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Made by | European Parliament and Council |
Made under | Article 114 of the TFEU. |
Journal reference | OJ L 176, 27.6.2013, p. 1–337 |
History | |
Date made | 26 June 2013 |
Implementation date | 27 June 2013 |
Applies from | 1 January 2014, with the exception of:
|
Preparative texts | |
EESC opinion | OJ C 68, 6.3.2012, p. 39. |
Other legislation | |
Replaces | Directive 2006/48/EC and Directive 2006/49/EC (among others) |
Amends | Regulation (EU) No 648/2012 |
Current legislation |
European Union directive | |
Text with EEA relevance | |
Title | on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms |
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Made by | European Parliament and Council |
Made under | Article 53(1) of the TFEU. |
Journal reference | OJ L 176, 27.6.2013, p. 338–436 |
History | |
Date made | 26 June 2013 |
Implementation date | 18 July 2013 |
Applies from | 31 December 2013 |
Preparative texts | |
EESC opinion | OJ C 68, 6.3.2012, p. 39–44 |
Other legislation | |
Replaces | Directive 2006/48/EC and Directive 2006/49/EC (among others) |
Amends | Directive 2002/87/EC |
Amended by | Directive 2014/17/EU and Directive 2014/59/EU |
Current legislation |
The Capital Requirements Regulation (EU) No. 575/2013 is an EU law that aims to decrease the likelihood that banks go insolvent.[1] With the Credit Institutions Directive 2013 the Capital Requirements Regulation 2013 (CRR 2013) reflects Basel III rules on capital measurement and capital standards.
Previous rules were found in the Capital Requirements Directives (2006/48 and 2006/49). Together the new rules are sometimes referred to in the media as the “CRD IV” package. It applies from 1 January 2014. This is the third set of amendments to the original directives, following two earlier sets of revisions adopted by the Commission in 2008 (CRD II) and 2009 (CRD III).[2]