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ARTICLE · 13 AUGUST 2013

German Legislator Decides To Cap Bonuses For Bank Staff – CRD IV Implementation Act Adopted

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On July 5, 2013, the German Federal Council (Bundesrat) decided to raise no objection against the CRD IV Implementation Act passed by the German Federal Parliament (Bundestag) on June 27, 2013.

GermanyEmployment and HR
Nicolas Rößler, LLM
Nicolas Rößler, LLM
Guido Zeppenfeld, LLM
Guido Zeppenfeld, LLM
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Keywords: German Legislator, Bonuses, Bank, Implementation Act, German Federal Council,

On July 5, 2013, the German Federal Council (Bundesrat) decided to raise no objection against the CRD IV Implementation Act passed by the German Federal Parliament (Bundestag) on June 27, 2013. The legislative procedure for this Act, which implements Directive 2013/36/EU (Capital Requirements Directive IV, "CRD IV") into German law, is thus completed.

Together with Regulation (EU) No. 575/2013 (Capital Requirements Regulation, "CRR"), the CRD IV is part of the so-called "Single Rule Book". The Single Rule Book enhances the capital adequacy of credit institutions and other institutions regulated by the German Banking Act ("Institutions"), provides for liquidity requirements harmonised throughout the EU, and harmonises the European banking supervisory legislation. Unlike the CRD IV, the CRR does not require implementation; it has a direct and immediate effect on the Institutions.

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