Three years on from CRD IV/CRR being finalised, the EU's
banking sector now faces a revised Capital Requirements Directive
and Capital Requirements Regulation (CRD V and CRR II), and a host of other
legislative amendments, in a 500+ page package published today.
These revisions to CRD V/CRR II and amendments to the Bank Recovery
and Resolution Directive (BRRD) are likely to stretch significant
regulatory change into the next decade.
A fractious debate
The proposals come at a time when the international debate
appears increasingly fractious ahead of next week's critical
Basel Committee on Banking Supervision (BCBS) meeting. European
dissatisfaction with developments around bank capital have been
much in evidence in recent months, and there now appears to be a
growing willingness within the EU to diverge from global standards
in its legislation. Combined with the apparently last-minute
addition of a requirement for some non-EU banks to house all their
European
