CRR II definition
Examples of CRR II in a sentence
The first set of post-crisis reforms that are part of the Basel III framework have been implemented in two steps:• in June 2013 with the adoption of CRR4 and CRD IV5;• in May 2019 with the adoption of Regulation (EU) 2019/8766, also known as CRR II, and Directive (EU) 2019/878, also known as CRD V7.
CRR II amends CRR and is directly applicable in all EU member states, and its application is staggered in accordance with Article 3 of the CRR II from 27 June 2019 to 28 June 2023.
In the next years, DZ BANK and its subsidiaries subject to banking supervision must implement the European rules and regulations (Capital Requirements Regulation II and III, also referred to as "CRR II" and "CRR III") amended as a result of the international regulatory reforms referred to as Basel III finalization (also known as Basel IV).
Overall, the implementation of Basel IV will represent a huge challenge for the DZ BANK banking group, although the first elements of the reforms have already been introduced in CRR II.
The CRR II and the BRRD II give effect to the FSB TLAC Term Sheet and modify the requirements for MREL eligibility.