Following 18 months of negotiations the Economic and Financial Affairs Council (ECOFIN) reached a long anticipated internal position, known as a ‘General Approach’ agreement last week on the Risk Reduction Measures (RRM) package. This package, when approved and applicable, implements into EU law a large part of the outstanding elements from the 2010 Basel III…

The European Commission, Parliament and Council reached a much needed political agreement on the so-called ‘fast-track’ elements – IFRS 9, Large Exposures (LE) and Bank Creditor Hierarchy (BCH) – of the Risk Reduction Measures (RRM) package on 25 October. The political agreements saw the Parliament largely adopt the Council’s position across all files. On IFRS 9…

With the reslease of the European Commission’s risk reduction package, it could be said that some of the more novel measures consitute unwanted Christmas presents for the EU’s banking sector. The Brussels bubble of policy enthusiasts has been eagerly awaiting the launch of the package – duly arriving on 23 November – whose aim is to…

The review of the Capital Requirements Regulation and Directive (CRR/CRD) at the end of 2016 promises to be one of the major deliverables of the Juncker 2014-2019 Commission in the financial services area. The review serves multiple purposes: apart from simply evaluating and improving the existing CRR I and CRD IV texts, it will also…