| Author (Corporate) | Council of the European Union, European Parliament |
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| Series Title | Official Journal of the European Union |
| Series Details | L 150 |
| Publication Date | 07/06/2019 |
| Content Type | Legislation |
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Summary: Regulation of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 (the Capital Requirements Regulation). Further information: In the aftermath of the financial crisis that unfolded in 2007-2008 the Union implemented a substantial reform of the financial services regulatory framework to enhance the resilience of its financial institutions. That reform was largely based on internationally agreed standards. Among its many measures, the reform package included the adoption of Regulation (EU) No 575/2013 and Directive 2013/36/EU, which strengthened the prudential requirements for credit institutions and investment firms. While the reform has rendered the financial system more stable and resilient against many types of possible future shocks and crises, it did not address all identified problems. In its Communication of 24 November 2015, the Commission recognised the need for further risk reduction and committed bringing forward a legislative proposal that would build on internationally agreed standards. In November 2016 the European Commission presented a proposal to amend Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements. |
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| Source Link | Link to Main Source https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2019.150.01.0001.01.ENG |
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| Subject Categories | Business and Industry |
| Subject Tags | Financial Services |
| Keywords | Banks | Banking |
| International Organisations | European Union [EU] |
