Following a lengthy negotiation process, the European Commission has announced that it has reached agreement with the European Council and Parliament on the final texts of the Capital Requirements Directive IV and Regulation (CRD IV / CRR) that will implement the Basel III framework within Europe.  The agreement paves the way for the European Parliament to approve the texts (at first reading) at a plenary session currently scheduled for 15 April 2013.  Although the final, agreed texts have not yet been released, they are expected to set a 1 January 2014 implementation date, which in turn means they must be published in final, translated form in the Official Journal of the EU by 30 June 2013.  Our new legislative Status Update table provides a quick-reference guide to the progress of this and other new European legislation affecting securitisation and structured finance transactions.

Useful links:

Commissioner Barnier's Statement