CAPITAL REQUIREMENTS REGULATION AND CAPITAL REQUIREMENTS DIRECTIVE

The CRR Capital Requirements Regulation and the CRD Capital Requirement Directive constitute the European transposition of Basel III: the legal basis approved by the European Parliament and the Council of the European Union, which defines a set of prudential requirements for credit institutions and investment firms. Regulation applies from 1 January 2014, but a transition period is anticipated, until the year 2019. During this period the new requirements will be phased in.