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Following the banking crisis of 2007-2009, the Basel Committee for Banking Supervision (BCBS) initiated a review of its regulatory capital requirements (Basel II framework). Following a series of “quick patches” to amend some of the existing rules, the review culminated in the release of a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen regulation, supervision and risk management within the banking sector (Basel III framework). In Europe, this effort has been transposed into three Directives: Capital Requirements Directives II and III for the patches and Capital Requirements Directive IV (CRD IV) for the Basel III rules. The Capital Requirements Regulation (CRR) is the legal act implementing the new Capital Requirements...
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