The purpose of this consultation is to obtain submissions on the transposition of Regulation EU 2019/876, Directive EU 2019/878 and Directive EU 2019/879. Together, these Directives and Regulation are known as the 'Risk Reduction Measures' Package and they amend the Capital Requirements Regulation (CRR), the Capital Requirements Directive (CRDIV), and the Bank Recovery and Resolution Directive (BRRD). Many of the amendments implement international standards that have been agreed by the Basel Committee on Banking Supervision.
National consultation on member state discretions
Sections 5 and 6 of the consultation document set out the discretions contained in the Risk Reduction Measures Package and the Department invites comments on whether these discretions should be availed of, how they should be availed of and clear reasoning for such a position. Comments are also welcomed where the transposition will have an impact on certain other national legislation.
The responses to this consultation will help to inform the Department’s position with regard to the discretions.
Public Consultation: Risk Reduction Measures Package 2019 (Amendments to CRR, CRDIV and BRRD)