On 19 September 2025, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2015/1496 which amends the Capital Requirements Regulation (CRR) concerning own funds requirements for market risk, notably delaying the implementation of the Fundamental Review of the Trading Book (FRTB) framework.
Key amendments:
- Postponement of FRTB implementation: The application date for FRTB own funds requirement has been deferred to 1 January 2027 due to delays to the implementation of FRTB standards in other jurisdictions.
- Continued application of pre-FRTB framework: In accordance with Article 430(b) of CRR, institutions should continue to report to their Member State competent authorities for the calculation of own funds requirements for market risk until the FRTB framework has been implemented.
- Disclosure requirements: Institutions are required to continue disclosing information relevant to their exposure to market risk and related own funds requirements based on pre-FRTB calculation approaches until the new disclosure requirements under Regulation (EU) 2024/1623 (CRR III) are applicable, which have also been deferred by one additional year.
The Delegated Regulation enters into force on the day following that of its publication in the OJ and shall apply from 1 January 2026.