Banking Package 2021

Following the political agreement reached at the end of the Swedish Presidency, a series of technical discussions have been taking place during the Spanish Presidency. These discussions are intended to conclude during the last quarter of 2023 and will be followed by the final approval from both the EU Council and Parliament, with the final package expected to be published in the Official Journal at the beginning of 2024. The CRR III provisions shall become applicable from 1 January 2025.

Meanwhile, the European Banking Authority (the ‘EBA’) has taken a proactive approach and is working on the several mandates within the Banking Package, such as the publication of the relative technical standards and guidelines. We keep encouraging credit institutions to participate in public consultations that are published from time to time on the EBA website.