Press release
Minister for Finance announces publication of consultation on the implementation of the Capital Requirements Regulation III
Published on
Last updated on
Published on
Last updated on
The Minister for Finance Jack Chambers has today (Tuesday), announced the publication of a public consultation on the implementation of the Capital Requirements Regulation III.
The Regulation was agreed in 2023 and it has to be implemented by January 2025. This Regulation amends the existing Capital Requirements Regulation, which was first published in 2013. The amendments to the Capital Requirements Regulation will take direct effect, however the Regulation allows for a small number of Member State discretions.
The Capital Requirements Regulation III, together with the Capital Requirements Directive VI, finalise the implementation of the Basel Banking Standards in the European Union. (The Capital Requirements Directive VI has a transposition deadline of 10 January 2026, a public consultation on the Member State discretions contained in the Directive will be held at a later date.)
The purpose of this consultation process is to seek the views of the public on the discretions contain in the Capital Requirements Regulation III so as to inform the Minister’s decisions in the context of implementing the Regulation.