On 19 June 2024, there was published in the Official Journal of the EU (OJ),

  • Directive (EU) 2024/1619 of the European Parliament and of the Council of 31 May 2024 amending the Capital Requirements Directive IV as regards supervisory powers, sanctions, third-country branches, and environmental, social and governance risks (CRD VI).
  • Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024 amending the Capital Requirements Regulation as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor (CRR III).

Member States will have 18 months to transpose CRD VI into national legislation, whilst CRR III will apply from 1 January 2025.

For market risk please refer to our blog Commission speech on CMU and Banking Union.