In a letter to the Second Chamber of the Dutch Parliament, the Minister of Finance explains the reasons for the late implementation of CRD II (Directives 2009/27/EC, 2009/83/EC and 2009/111/EC). CRD II should have been implemented into national laws by 31 October 2010. Only the implementation of Directive 2009/111/EC requires a change in the law. The implementation delay has been caused mainly by a lack of capacity at the Ministry of Finance.

The Minister now aims to submit implementing legislation to the Second Chamber in the spring.

DNB has already amended its supervisory rules to comply with CRD II.

See also Newsletter Financial Markets November 2010