Banking Reform Package definition

Banking Reform Package means: (i) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No. 575/2013 as regards the leverage ratio, the net stable funding ration, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposure to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No. 648/2012; (ii) Regulation (EU) 2019/877 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No. 806/2014 as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms; (iii) Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures; and (iv) Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms and Directive 98/26/EC;

Banking Reform Package means (i) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No. 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities,

Banking Reform Package means (i) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No. 575/2013 as regards the leverage

Examples of Banking Reform Package in a sentence

• The Banking Reform Package also contains the Directive (EU) 2019/879 (BRRD II), which amended the BRRD, introducing, inter alia, significant changes to the standards regarding the calibration of the MREL requirement for banks that are systematically relevant and redefining the scope of MREL itself in order to align the eligibility criteria with those set out in the CRR so as to converge this ratio with the TLAC.

• On 20 May 2019, the European Commission adopted the EU Banking Reform Package consisting of revised the CRD IV and the CRR as well as of the BRRD.

• Such activities are now subject to stringent conditions and to the prior approval of the competent authority.94Therefore, the functional relevance of reforming qualitative requirements for eligible liabilities lies in striking a difference balance between financial stability considerations and market discipline.95 After the Banking Reform Package, the financial stability considerations prevailed not only when it comes to capital instruments but also for other eligible liabilities.

• The EU Banking Reform Package includes Directive (EU) 2019/879, which provides for a number of significant revisions to the BRRD (known as BRRD2).

• The Banking Reform Package also introduces a new potential restriction on distributions in case an institution qualifying as a G-SIB fails to meet a newly introduced leverage buffer requirement with sufficient Tier 1 capital.

• It thus meets the subordination requirement with a ratio of 24.8% of RWA (10.2% TLOF).On 20 May 2020, the SRB issued a new MREL policy, which it will apply under the Banking Reform Package.

• One could assess the impact of rules introduced through the recent Banking Reform Package (Article 44a BRRD2) and whether there is a need to harmonise and enhance them.

• On 27 June 2019, the Banking Reform Package came into force, subject to various transitional and staged timetables.

• See also "2.2.6 Ongoing and future legislative reforms may lead to additional restrictions with regard to Interest Payments on the Notes." for further restrictions on distributions introduced by the Banking Reform Package.

• The Banking Reform Package was published in the Official Journal of the European Union in early June 2019 and entered into force on 27 June 2019 and will apply as of 1 January 2021 at the earliest.