EU: Legislative proposals for stronger banking supervision
On 27 October 2021, the EU Commission has presented legislative proposals to amend the EU banking rules (Capital Requirements Regulation and Capital Requirements Directive). These new rules aim to ensure that banks in the EU are better equipped to deal with potential economic shocks, while contributing to Europe’s recovery from the COVID-19 pandemic and the transition to climate neutrality.
The presented package aims to complete the implementation of the Basel III Agreement in the EU. Furthermore, banks in the EU area shall be obliged in the future to systematically identify, disclose, and manage environmental, social and governance risks (so-called ESG risks) as part of their risk management. Also, against the backdrop of the Wirecard scandal in Germany, the supervisory authorities responsible for the supervision of banks in the EU shall be given stronger tools, including better instruments for the supervision of fintech groups. In a next step, the legislative proposals shall be discussed in the European Parliament and the Council, the two law-making bodies of the European Union.
These are the upcoming dates for our Annual General Meetings:
Thursday, 21 March 2024
Thursday, 20 March 2025