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ARTICLE · 28 JUNE 2024

Outline CRR III / CRD VI - Final Basel III Standards

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The Basel III standards comprise a package of reforms that were largely agreed by the Basel Committee on Banking Supervision ("BCBS") in December 2017...

United StatesFinance and Banking
Marcel Hörauf
Marcel Hörauf
Patrick Scholl
Patrick Scholl
James Taylor
James Taylor
Chris Chapman
Chris Chapman
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I. IMPLEMENTING BASEL III THROUGH THE CRR III REGULATION

The Basel III standards comprise a package of reforms that were largely agreed by the Basel Committee on Banking Supervision ("BCBS") in December 2017 and set out in the BCBS standard "Basel III: Finalising post-crisis reforms" (BCBS 424).

In order to implement more fully these standards, the European Commission has amended the Capital Requirements Regulation (Regulation (EU) 575/2013, as amended ("CRR")) by Regulation (EU) 2024/1623 ("CRR III") and the Capital Requirements Directive (Directive (EU) 2013/36, as amended ("CRD IV")) by Directive (EU) 2024/1619 ("CRD VI"). Both of which have been published in the Official Journal of the European Union on 19 June 2024 and shall enter into force on the twentieth day following that of its publication. Most amended provisions of the CRR will become effective on 1 January 2025 while CRD implementation provisions are to be transposed by EU member states (each, a "Mem

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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