The final elements for the implementation of Basel III in the EU are now agreed and will start applying on the 1st of January 2025

The banking package that implements the Basel III framework in the EU includes amendments to the Capital Requirements Regulation (‘CRR’) and to the Capital Requirements Directive (‘CRD’). These new rules will ensure that EU banks become more resilient to potential future economic shocks, while contributing to Europe's recovery from the COVID-19 pandemic as well as to the transition to climate neutrality.

Co-legislators confirmed that the new CRR rules will start applying on 1 January 2025. The provision included in the CRD will need to be transposed by Member States before they start applying.

Read more about where we stand in this process, why is the endorsement of the legal texts by Coreper and ECON important, how is the Union implementing the Basel III agreement, and the next steps.