Public Consultation regarding further possible changes to the Capital Requirements Directive ("CRD")

Policy field(s)
Internal market / Financial services / Banking / Regulatory capital

Target group(s)
All citizens and organisations are welcome to contribute to this consultation. Contributions are particularly sought from representatives of credit institutions, investment firms, other financial institutions, consumers (depositors and clients of credit institutions and investment firms), and Member States' authorities.

Period of consultation
From 24.07.2009 to 04.09.2009

Objective of the consultation
The objective is to consult on possible changes to the Directives 2006/48/EC and 2006/49/EC ('the Capital Requirements Directive') relating to the following areas: through-the-cycle expected loss provisioning; specific incremental capital requirements for residential mortgages denominated in a foreign currency; and the removal of national options and discretions. These would give effect to commitments set out in the Commission's Communication of 4th March to the European Council to mitigate excessive procyclicality through counter-cyclical provisioning; to explore measures to ensure responsible lending and borrowing; and to remove the exceptions, derogations and discretions which give rise to differences in national implementing legislation from the current directives.

View the consultation document
Consultation regarding further possible changes to the Capital Requirements Directive ("CRD") PDF - 154 KBEnglish

Contact details
Responsible service: Directorate General Internal Market and Services
Directorate Financial Institutions
Banking and Financial Conglomerates Unit
Postal address: European Commission, B-1049 Brussels, Belgium

Reason why the consultation period is less than 8 weeks
These amendments form part of the ongoing response of the European Union to the financial crisis and a proposal is scheduled for adoption by the Commission in October. A shorter consultation period is necessary to meet that timetable.

Number of responses received to this consultation

View the contributions
In the interests of transparency, organisations have been invited to provide the public with relevant information about themselves by registering in the Commission's Interest Representative Register and subscribing to its Code of Conduct. If the organisation is not registered, the submission is published separately from the registered organisations.

Last update: 06-07-2011