ECON publishes reports on proposals for CRR III and CRD VI

Article summary

The Economic and Monetary Affairs Committee of the European Parliament (ECON) has published reports on (1) the proposed regulation amending the Capital Requirements Regulation (EU) 575/2013 (CRR) in relation to requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor (to be known as CRR III) and (2) the proposed directive amending Directive 2013/36/EU (CRD IV) in relation to supervisory powers, sanctions, third-country branches, and environmental, social and governance risks and also amending the Bank Recovery and Resolution Directive 2014/59/EU (BRRD) (to be known as CRD VI). The measures aim to finalise the EU’s implementation of the internationally-agreed Basel III standards, to make banks more resilient to possible economic shocks.