CRD IV legislation published in Official Journal | Practical Law

CRD IV legislation published in Official Journal | Practical Law

The texts of the Capital Requirements Regulation (CRR) and the CRD IV Directive have been published in the Official Journal of the EU (OJ). (Free access.)

CRD IV legislation published in Official Journal

Practical Law UK Legal Update 0-532-5206 (Approx. 3 pages)

CRD IV legislation published in Official Journal

by Practical Law Financial Services
Published on 27 Jun 2013 • European Union
The texts of the Capital Requirements Regulation (CRR) and the CRD IV Directive have been published in the Official Journal of the EU (OJ). (Free access.)
On 27 June 2013, the following documents were published in the Official Journal of the EU (OJ):
  • Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Capital Requirements Regulation or CRR).
    The CRR enters into force on 28 June 2013 and, with the exception of certain provisions specified in Article 521, will apply from 1 January 2014.
  • Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (CRD IV Directive).
    The Directive enters into force on the twentieth day following its publication in the OJ. With the exception of certain provisions specified in Article 162, 31 December 2013 is the deadline for member states to transpose the Directive and to apply its provisions.
The Council of the EU adopted the legislative texts for CRD IV on 20 June 2013 (see Legal update, Council of EU adopts CRD IV at first reading).
The CRR and the CRD IV Directive, collectively referred to as CRD IV, implement the Basel III reforms in the EU, as well as introducing certain EU-specific reforms including imposing restrictions on bonuses. The CRD IV Directive repeals the Capital Requirements Directive (2006/48/EC and 2006/49/EC) with effect from 1 January 2014.
For more information on CRD IV, see Practice note, Hot topics: CRD IV.
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