The EP plenary has voted in favour of the text of the Capital Requirements Directive and Regulation package (CRD4) agreed with the Council. The Council has to confirm its support too, and the texts need translating, before they can be published in the Official Journal of the European Union (OJEU). The Prudential Regulatory Authority (PRA) in the UK has explained that, if the package is published in OJEU before 1 July, implementation will be from 1 January 2014. Assuming these dates are met, PRA will consult during the summer on the changes required to GENPRU and BIRPU. A shorter consultation will cover the procedure for transitioning existing waivers. (Source: Parliament Votes Reform Package to Strengthen EU Banks and Statement on CRD4 Implementation Timetable)