IRISH DEVELOPMENTS
CRD IV
CRD IV comprises a new Capital Requirements Directive
(2013/36/EU) and related Capital Requirements Regulation
(575/2013)1. The Regulation was directly effective
in Ireland from 1 January 2014 and the deadline for transposing the
Directive into Irish law was the same date. So far however, the
statutory instrument transposing the Directive has not yet been
published and we will issue a further client update as soon as it
is available.
In November and December 2013, the Department of Finance
published two consultations, the first proposing that the Central
Bank of Ireland (the Central Bank) be the designated authority for
certain CRD IV purposes, and the second proposing particular
approaches to remuneration-related areas where Member States have
discretion. The approach to be taken as a result of these
consultations will become clear once the transposing statutory
instrument for the CRD IV Directive is published.
