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 certain provisions detailed within Article 521 which apply from 1 January 2014) and the CRD enters into force on 17 July 2013 (being the twentieth day following publication in the OJ). Member States must transpose the CRD into national law by 31 December 2013 (except for certain provisions detailed within Article 162).  With effect from 1 January 2014, the current Capital Requirements Directive (2006/48/EC and 2006/49/EC) will be repealed.