Jurisdiction(s):
European Union

EU banking package 2021: CRR III, CRD VI and the ‘daisy chain’—Basel III finalisation, ESG/supervisory reforms, and current status including FRTB deferral to 2026

Published by a LexisNexis EU Law expert

Practice notes

ARCHIVED

This Practice Note is archived and not maintained. This flashcard supports absorption and recall of the key points on implementing the EU’s 2021 proposals to revise the Capital Requirements Regulation (EU) 575/2013 (EU CRR) and Directive 2013/36/EU (EU CRD IV), referred to as EU CRR III and CRD VI, alongside the separate ‘daisy chain’ proposal. The measures are intended to complete the EU’s implementation of the internationally agreed Basel III standards, enhancing banks’ resilience to potential economic shocks.

What were the proposals?

The European Commission’s ‘banking package 2021’, adopted on 27 October 2021, comprised:

a proposed directive amending EU CRD IV on supervisory powers, sanctions, third‑country branches, and environmental, social and governance risks, and amending the Bank Recovery and Resolution Directive 2014/59/EU (EU BRRD) (EU CRD VI)
a proposed regulation updating the EU CRR on requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor (EU CRR III)
a separate proposed regulation amending the EU CRR and Directive 2014/59/EU (EU BRRD) concerning the prudential treatment of global systemically...

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Web page updated on 21/05/2026

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