Amendments to the Capital Requirements Regulation and Directive

Published 02.11.2020

State of play: on 7 June 2019, the Regulation was published in the Official Journal (L 150/1)

Level 1

Commission

  • 23 November 2016, the proposal was published.
  • 11 October 2019, the Commission opened a public consultation on a proposal for regulation to amend the CRD.

Parliament

  • 28 February 2017, the ECON Committee held the first exchange of views on updating CRR and CRD.
  • 25 April 2017, the ECON Committee held a public hearing on updating CRR and CRD.
  • 3 May 2017, the ECON Committee held a second exchange of views on updating CRR and CRD.
  • The proposal was split in two parts in order to fast track the international financial reporting standards (IFRS9) part.
  • 20 June 2017, the ECON Committee held a first exchange of views on the fast-tracked IFRS9 part.
  • 11 July 2017, the ECON Committee adopted its position on the fast tracked IFRS9.
  • 16 November 2017, the ECON Committee published the draft report on the CRD.
  • 11 December 2017, the ECON Committee publishes the draft report on the CRR.
  • 22 February 2018, the ECON Committee discussed amendments to the draft reports.
  • 19 June 2018, the ECON Committee adopted the draft reports on the CRR II and the CRD V.
  • 28 June 2018, the Parliament confirmed the draft reports in plenary and approved the negotiations mandate.

Council

  • 25 May 2018, the Council agreed on a common position on the CRR and the CRD and approved the mandate to start negotiations with the Parliament.
  • 4 December 2018, the ECOFIN Council endorsed the political parts of the package of measures on the Banking Union, more specifically on measures to reduce risk.
  • 14 May 2019, the Council adopted a package containing amendments to the CRR and CRD.

Trilogue negotiations

  • 15 February 2019, the Coreper endorsed the trilogue agreement.
  • 16 April 2019, the Parliament voted the texts of CRR and CRD as agreed in the trilogue negotiations

Level 2

  • 20 May 2019, ESMA published a second set of amendments to the ITS on the mapping of external credit assessment institutions (ECAIs) under the CRR.
  • 24 May 2019, ESMA launched a consultation on proposed amendments to the main indices and recognised exchange under the CRR.
  • 7 June 2019, EIOPA launched a consultation on the new amendments to ITS linked with Solvency II.
  • 6 August 2019, the EBA published the feedback on a review of the use, usefulness and implementation of the Single Rulebook Q&As relating to the CRR and CRD.
  • 16 October 2019, the EBA launched a public consultation on the new comprehensive ITS for financial institutions’ public disclosure, designed to promote market discipline.
  • 16 October 2019, the EBA launched a public consultation on revised ITS on supervisory reporting, which aim to keep the reporting requirements in line with changes in the regulatory framework and with the evolving needs for Supervisory Authorities’ risk assessments.
  • 22 October 2019, the Commission opened a targeted consultation on its draft delegated acts amending the CRR with regard to the alternative standardised approach for market risk.
  • 13 November 2019, the EBA launched a three-month consultation on the draft amended RTS and ITS on passport notification.
  • 11 December 2019, ESMA published the final report on draft amendments to Implementing Regulation (EU 2016/1646), specifying the main indices and recognised exchanges under the CRR relevant to credit institutions and investment firms subject to prudential requirements and trading venues.
  • 13 December 2019, the EBA launched a consultation to amend the Commission’s Implementing Regulation on benchmarking of internal models under the CRD.
  • 18 December 2019, the EBA published its final draft RTS on the Standardised Approach for Counterparty Credit Risk (SA-CCR) under the CRR.
  • 19 December 2019, the EBA published an updated list of capital instruments that Competent Authorities (CAs) across the EU have classified as Common Equity Tier 1 (CET1) under the CRR.
  • 19 December 2019, the EBA launched a public consultation on its draft Regulatory Technical Standards (RTS) on the criteria to identify all categories of staff whose professional activities have a material impact on the institutions’ risk profile (“risk takers”) under the CRD.
  • 13 January 2020, the EBA launched a consultation on draft RTS on the treatment of non-trading book positions subject to foreign-exchange risk or commodity risk under the FRTB framework.
  • 14 February 2020, the Commission adopted an Implementing Act amending Regulation (EU) No 680/2014 with regard to COREP and FINREP changes. Its publication in the EU Official Journal is still pending.
  • 27 March 2020, the EBA published its final draft RTS on the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB).
  • 28 April 2020, the European Commission an Interpretative Communication on the EU’s accounting and prudential frameworks, as well as targeted “quick fix” amendments to EU banking rules (the Capital Requirements Regulation).
  • 4 May 2020, the EBA published its final draft implementing technical standards (ITS) on specific reporting requirements for market risk, introducing the first elements of the Fundamental Review of the Trading Book (FRTB).
  • 29 May 2020, the EBA launched a consultation on the draft amended regulatory technical standards (RTS) on own funds and eligible liabilities.
  • 4 June 2020, the EBA launched a consultation on draft regulatory technical standards (RTS) on the capitalisation of non-modellable risk factors (NMRFs) for institutions using the new Internal Model Approach (IMA) under the FRTB.
  • 9 June 2020, the EBA launched a consultation on draft RTS specifying the prudential treatment of software assets.
  • 18 June 2020, the EBA published its final draft amending RTS and ITS on passport notification.
  • 18 June 2020, the EBA published its final draft RTS on the criteria to identify all categories of staff whose professional activities have a material impact on the institutions’ risk profile (“risk-takers”).
  • 24 June 2020, the EBA published new ITS on public disclosures by institutions and revised final draft ITS on supervisory reporting that implements changes introduced in the revised Capital Requirements Regulation (CRR2) and the Prudential Backstop Regulation.
  • 22 July 2020, the EBA launched a consultation on draft RTS on default probabilities (PDs) and losses given default (LGDs) for default risk model for institutions using the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB).
  • 23 July 2020, the EBA launched a consultation on draft RTS for the determination of indirect exposures arising from derivative contracts.

Level 3 

  • 1 August 2017, the EBA issued an opinion on the measures in accordance with Article 458 of the CRR. 
  • 20 December 2018, the EBA published a preliminary assessment on the post-implementation impact of IFRS 9 on EU banks. 
  • 17 January 2019, the EBA published the final guidelines regarding the type of exposures to be associated with high risk under the CRR.
  • 2 October 2019, the EBA published two reports, which monitor the impact of implementing the final Basel III reforms and the current implementation of liquidity measures in the EU.
  • 16 October 2019, the EBA launched a consultation on draft guidelines on the application of the Structural FX provision. 
  • 23 October 2019, the EBA published an opinion on the regulatory treatment of securitisations of non-performing exposures addressed to the Commission.
  • 28 November 2019, the EBA published its final guidelines on ICT and security risk management under CRD.
  • 4 May 2020, the EBA published its final guidelines on the determination of the weighted average maturity (WAM) of the contractual payments due under the tranche of a securitisation transaction.
  • 27 May 2020, the EBA published an opinion on the extension of measures introduced to safeguard institutions from excessive risk-taking and to prevent the build-up of future vulnerabilities.
  • 18 June 2020, the EBA decided to extend the application date of its Guidelines on legislative and non-legislative moratoria to 30th September 2020. (Covid-19).
  • 1 July 2020, the EBA published its final guidelines on the treatment of structural FX positions.
  • 22 July 2020, the EBA launched a consultation on guidelines specifying the conditions for the substitution approach in the context of “tri-party transactions” for large exposures purposes under CRR.
  • 31 August 2020, EBA has published an opinion in response to the EC’s intention to amend EBAs final draft RTS on CRR.
  • 18 September 2020, the EBA published an opinion to the European Commission on CRR and CRD.
  • 2 October 2020, the EBA published a set of guidelines on the appropriate subsets of sectoral exposures to which a competent or designated authority following the entry into force of the fifth Capital Requirements Directive (CRD V).

 

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