Third Capital Requirements Regulation and Sixth Capital Requirements Directive published

The EU has published in the Official Journal of the European Union the final implementing rules for amendments to the EU Capital Requirements Regulation and the Capital Requirements Directive (commonly referred to as the EU banking package), namely:

Regulation amending the EU Capital Requirements Regulation as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the minimum exit threshold ((EU) 2024/1623) (CRR III). The Regulation shall enter into force on 9 July 2024, 20 days after its publication in the Official Journal of the European Union. CRR III shall apply from 1 January 2025, with the exception of certain specific points of Article 1, which shall apply from 9 July 2024; and
Directive amending the EU Capital Requirements Directive with regard to supervisory powers, sanctions, branches in third countries and environmental, social and governance risks ((EU) 2024/1619) (CRD VI). The Directive enters into force on 9 July 2024, 20 days after its publication in the Official Journal of the European Union. Member States are required to adopt and publish the laws, regulations and administrative provisions necessary to comply with CRD VI by 10 January 2026 and apply these measures from 11 January 2026, with the exception of Articles 1(9) and (13), which shall apply from 11 January 2027. Another exception provides for the measures necessary to comply with the changes set out in Article 1(13) concerning Articles 48k and 48l of the CRD, which shall apply from 11 January 2026, and Article 1(9) concerning Article 21c(5) of the CRD, which shall apply from 11 July 2026.

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