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On 24 November 2010, the
Council and the European Parliament officially adopted Directive 2010/76/EU on capital requirements for the trading book and for re-securitisations and the supervisory review of remuneration policies. Directive 2010/76/EU was to be implemented in two phases. The first, which
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On 17 July 2013, the CRD IV package was transposed —via a
Regulation (Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR)) and a Directive (Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of
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have argued that
European powers such as France and Germany pushed dogmatically and naively for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD). In essence, they forced European banks, and, more
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On 16 September 2009, the
Council and the European Parliament officially adopted Directive 2009/111/EC, which is part, together with Directives 2009/27/EC and 2009/83/EC, of the second legislative package aimed at ensuring the financial soundness of banks and investment firms.
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In 2000, seven
Banking Directives and their amending Directives were replaced by one single Banking Directive (2000/12/EC), which aimed to improve the clarity and transparency of the EU legislation and to create a kind of "European Banking Act". The adoption of the
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affects the remuneration provisions, as well as a number of other ones dealing with the extension of some pre-existing minimum capital requirements, had to be implemented by 1 January 2011. The remaining provisions had to be implemented by 31 December 2011.
287:(Directive 93/6/EEC) on the other hand (Directive 2006/49/EC). These two Directives were officially adopted on 14 June 2006 and published in the Official Journal on 30 June 2006. Both Directives entered into force on 20 July 2006.
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Member States have progressively transposed, and firms of the financial service industry thus have had to apply, the CRD from 1 January 2007. Institutions were allowed to choose between the initial
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The new CRD IV package entered into force on 17 July 2013: this updated CRD simply transposes into EU law the latest global standards on bank capital adequacy commonly known as
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Directive 2013/36/EU of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms
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itself, to rely more than ever on the standardised assessments of "credit risk" marketed aggressively by two US credit rating agencies—
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guidelines in 2004 was followed at EU level by a recast of the
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on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms
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https://web.archive.org/web/20130627202127/http://ec.europa.eu/internal_market/bank/regcapital/legislation_in_force_en.htm
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Regulation (EU) No 575/2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms
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agreement) into EU law, entered into force. This is the current legislation on banking prudential requirements.
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https://web.archive.org/web/20060711060130/http://ec.europa.eu/internal_market/bank/regcapital/index_en.htm
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credit institutions and investment firms)— the new global standards on bank capital (the
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The
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Directive 2006/48/EC and
Directive 2006/49/EC (among others)
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rules on capital measurement and capital standards.
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429:(in French). Archived from
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