Basel IV and CRR 3 finally finalised as of June 2024: The EU is integrating Basel IV via the 2021 EU banking package, which includes significant amendments to the CRR. |
After extensive negotiations and final approval by both the Parliament and the Council of the European Union, the CRR3 has been published in the Official Journal on June 19th, 2024. The CRR 3 changes will have a profound influence on business models, strategies, and operational processes of all European banks. Addressing a broad spectrum of risks, from credit and market to operational, CRR 3 sets a new benchmark, surpassing previous regulations for the European banking sector.
Our interactive whitepaper provides a comprehensive yet concise guide to the pivotal features and implications of the finalised CRR 3. Dive into the document and become familiar with all the essential changes! |
The CRR 3 is not just another regulatory requirement; it is a call for banks to elevate their risk management, reporting and governance frameworks to new heights. It is important for banks to not only understand but to proactively shape their future in this evolving landscape. Procrastination is not an option; the time to strategise and act is now.
Martin Neisen
Partner - FS Governance, Risk and Compliance |
The financial community had eagerly set its sights on the Basel IV rollout, initially projected for 2022. However, global challenges, most notably the COVID pandemic, have reshaped priorities and timelines. But as the timeline for a 2025 European implementation is set, it is essential to analyse all the details of the final CRR 3 regulatory framework. EU-specific calibrations considering the European banking landscape, proportionality thresholds and many details around risk measurements in all its facets will have a significant impact on the capital requirements and the necessary transformation efforts. In light of the CRR 3 regulatory reforms and the related stringent capital requirements, risk management considerations and enhanced reporting requirements banks need to reevaluate their strategies and how they communicate with stakeholders and make business decisions. Our global PwC network assists with expert knowledge, holistic implementation approaches, best practice solutions and benchmarking experience. |
