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Regulation (EU) 2024/1623 (CRR3/Basel IV) - Revised Capital Requirements: Output Floor 72.5% from 2030, Revised Credit Risk Standardised Approach, Operational Risk New Standardised Approach, Fundamental Review of the Trading Book (FRTB) and SA-CCR Counterparty Credit Risk

Regulation (EU) 2024/1623 of 19 June 2024 (CRR3) amends Regulation (EU) No 575/2013 (CRR) to implement the final Basel IV capital standards in the EU,…

What Regulation (EU) 2024/1623 (CRR3/Basel IV) - Revised Capital Requirements: Output Floor 72.5% from 2030, Revised Credit Risk Standardised Approach, Operational Risk New Standardised Approach, Fundamental Review of the Trading Book (FRTB) and SA-CCR Counterparty Credit Risk requires

Regulation (EU) 2024/1623 of 19 June 2024 (CRR3) amends Regulation (EU) No 575/2013 (CRR) to implement the final Basel IV capital standards in the EU, phased in from 1 January 2025; the cornerstone of CRR3 is the output floor requiring that internal model-based Risk-Weighted Assets (RWA) must not be less than 72.5% of RWA calculated under standardised approaches, phased in from 50% in 2025 to 72.5% in 2030; CRR3 also introduces a revised credit risk standardised approach (SA) with more granular risk weights, a new single standardised approach for operational risk (SMA replaced), requires EU implementation of the Fundamental Review of the Trading Book (FRTB) for market risk, and updates the Standardised Approach for Counterparty Credit Risk (SA-CCR); credit valuation adjustment (CVA) risk framework is also updated; small and non-complex institutions (SNCI) benefit from simplified reporting and proportionate approaches.

Pillar: Banking & Global Finance · Authority: European Parliament and Council of the European Union · Version: 1.0.1 · Last updated:

Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32024R1623

SHA-256 integrity: 086e9692c7e6aeea2a45fc1714d93328cc942241e32b22e53b64e81d373bad9f

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