Press Release: Financial crisis response: Commission asks stakeholders for views on further possible changes to Capital Requirements Directive (‘CRD IV’)

The European Commission launched on February 2010 a public consultation on further possible changes to the Capital Requirements Directive (CRD) aimed at strengthening the resilience of the banking sector and the financial system as a whole. The proposed changes, known as 'CRD IV', following two earlier Commission proposals amending the CRD, relate to seven specific policy areas, most of which reflect commitments made by G20 leaders at summits in London and Pittsburgh during 2009. These commitments included building high-quality capital, strengthening risk coverage, mitigating pro-cyclicality and discouraging leverage, as well as strengthening liquidity risk requirements and forward-looking provisioning for credit losses. All interested stakeholders are invited to reply to the consultation by 16 April 2010, indicating what impact the potential changes would have on their activities. The results will feed into a legislative proposal scheduled for the second half of 2010.

European Commission: Memo: MEMO/10/51:Public consultation on the Capital Requirements Directive ('CRD IV') http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/51&format=HTML&aged=0&language=EN&guiLanguage=en

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