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ARTICLE · 22 OCTOBER 2013

A Firm Impact - Getting Ready For Capital Requirements Directive IV

Smith & Williamson
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CRD IV introduces significant changes to what comprises eligible capital or own funds, notably it removes what is currently Tier 3 capital.

United KingdomFinance and Banking
Guy Swarbreck
Guy Swarbreck
Sam Williams
Sam Williams

Capital Requirements Directive IV (CRD IV) is the EU's implementation of Basel III for banks which affects approximately 2,400 investment firms prudentially regulated by the Financial Conduct Authority (FCA).

CRD IV is split into two instruments: the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD). The CRR instrument relates mainly to capital and reporting requirements and the CRD instrument relates primarily to governance and operational requirements. The implementation of CRD IV represents one of the most significant changes to the capital, reporting and operational requirements for investment firms in recent years and firms should ensure they are prepared for the changes following its application from 1 January 2014.

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