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Author: Kathrin Hafner

FRQ - Proposals to amend CRR and CRD – Implementation of Basel III and ESG risks

The European Commission has published three proposals amending the CRR, the CRD, and the BRRD on 27 October 2021. This legislative package, known as Banking Package 2021, finalises the implementation of Basel III (also known as Basel IV in the market), strengthens the focus on environmental, social and governance risks as well as supervisory powers. In the first issue of our series on the Banking Package, we take acloser look at the implementation of Basel III as well as the new requirements regarding ESG risks.