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Basel III phase-in begins to bite

30th July 2013. The PRA updated its statements on bank and capital leverage ratios to include Barclays. A brief summary of 2013 statements to date: Lloyds/RBS– the PRA has mandated the capital requirements- the two banks’ compliance plans will be announced once discussion with all 8 major banks are concluded. Co-operative Bank– needs to generate […]

EU Commission Updates CRD IV FAQs

On 16 July 2013, the EU Commission published an update to its FAQ document on the CRD IV package.

BCBS Consults on Exposures to CCPs

Introduction On 28 June 2013, the Basel Committee on Banking Supervision (BCBS) published a consultative document entitled “Capital treatment of bank exposures to central counterparties” (CCPs).  The purpose of the document is to consult on possible changes to the BCBS’ July 2012 interim rules on Capital requirements for bank exposures to central counterparties (the “Interim […]

CRD IV Published in Official Journal

Following their adoption by the EU Council on 20 June 2013, the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD), the EU’s implementation of the Basel III reforms, were published in the EU Official Journal (OJ) on 27 June 2013. The CRR enters into force on 28 June 2013 (with the exception of […]

Bafin to Enact CVA Charge?

An interesting article in Risk magazine, highlighting the continuing uncertainty over Basel III implementation and its integration with concurrent regulatory reforms. The European version of Basel III, the Capital Requirements Regulation (CRR), contains a carve-out to the requirement under Basel III to levy a Credit Valuation Adjustment (CVA) charge in relation to the counterparty risk […]

EU Parliament Adopts CRD IV

Following the conclusion of trialogue negotiations between the EU Parliament, EU Council and EU Commission in March over the implementation of Basel III in the EU, on 16 April 2013 the Parliament issued a press release announcing the adoption of the legislative package known as CRD IV, which will implement Basel III within the EU. […]

EU Commission Publishes FAQ on CRD IV

On 21 March 2013, the EU Commission published an FAQ on the CRD IV, the EU implementation of Basel III.  Have a read, it’s a great introduction.

Agreement Reached Over CRD IV

On 21 March 2013, the EU Commission published a statement by Michel Barnier confirming that agreement in trialogue between the EU Parliament, EU Council and EU Commission had been reached over the implementation in the EU of Basel III (CRD IV). It is thought that the EU Parliament will vote on the proposal at its […]

FSA Warns Firms Not to Forget Basel III

On 22 February 2013, the FSA published a refreshed statement regarding the Capital Requirements Directive (“CRD IV”).  It notes that, in accordance with Basel III, CRD IV had an implementation date of 1 January 2013.  Unfortunately, this deadline has been missed due to the continued tri-logue process between the EU Commission, EU Parliament and EU […]

EU and US to Implement Basel III “as soon as possible”

Euractive is reporting that the EU and the US have agreed to implement Basel III capital adequacy rules “as soon as possible”, which seems to mean from 1 January 2014 in the case of the EU. The report also confirms that there is broad agreement at an EU level at capping banker bonuses at a […]

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