On 5 May 2023, the Council of the EU published the following information notes which set out the opening position of the three institutions prior to the commencement of the trilogue phase:

• Basel III finalisation (CRR 3) – Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and amending Regulation (EU) No 806/2014 – Initial positions of the three Institutions prior to commencement of trilogues

• Basel III finalisation (CRD VI) – Proposal for a Directive of the European Parliament and of the Council amending Directive 2013/36/EU as regards supervisory powers, sanctions, third-country branches, and environmental, social and governance risks, and amending Directive 2014/59/EU – Initial positions of the three Institutions prior to commencement of trilogues