Banking Union: Council adopts banking package measures


On 14 May 2019, the Council of the European Union adopted legislative measures making up the European Union's banking package, including:

  • A regulation (CRR 2) and a directive (CRD 5) aimed at amending the Capital Requirements regulation ;

  • A directive aimed at amending the Bank Recovery and Resolution Directive (BRRD 2);

  • And a regulation aimed at amending the Single Resolution Mechanism (SRM 2) Regulation. The key changes aimed at reducing risks and toughening banking regulation and oversight are as follows:

    • A requirement for third-country institutions with significant activities in the European Union (EU) to have an EU intermediate parent undertaking;

    • Enhanced bank capital requirements;

    • A new total loss absorbing capacity requirement for global systemically important institutions;

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