Directive 2013/36/EU - Capital Requirements Directive CRD IV

Version status: Applicable | Document consolidation status: Updated to reflect all known changes

Published date: 27 June 2013

Directive 2013/36/EU - Capital Requirements Directive CRD IV

	Recitals
	Title I Subject matter, scope and definitions (arts. 1-3)
	Article 1 Subject matter
	Article 2 Scope
	Article 3 Definitions
	Title II Competent authorities (arts. 4-7)
	Article 4 Designation and powers of the competent authorities
	Article 4a Supervisory independence of competent authorities
	Article 5 Coordination within Member States
	Article 6 Cooperation within the European System of Financial Supervision
	Article 7 Union dimension of supervision
	Title III Requirements for access to the activity of credit institutions (arts. 8-27l)
	Chapter 1 General requirements for access to the activity of credit institutions (arts. 8-21c)
	Article 8 Authorisation
	Article 8a Specific requirements for authorisation of credit institutions referred to in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013
	Article 9 Prohibition against persons or undertakings other than credit institutions from carrying out the business of taking deposits or other repayable funds from the public
	Article 10 Programme of operations, structural organisation and governance arrangements
	Article 11 Economic needs
	Article 12 Initial capital
	Article 13 Effective direction of the business and place of the head office
	Article 14 Shareholders and members
	Article 15 Refusal of authorisation
	Article 16 Prior consultation of the competent authorities of other Member States
	Article 17 Branches of credit institutions authorised in another Member State
	Article 18 Withdrawal of authorisation
	Article 19 Name of credit institutions
	Article 20 Notification of authorisation and withdrawal of authorisation
	Article 21 Waiver for credit institutions permanently affiliated to a central body
	Article 21a Approval of financial holding companies and mixed financial holding companies
	Article 21b Intermediate EU parent undertaking
	Article 21c Requirement to establish a branch for the provision of banking services by third-country undertakings
	Chapter 2 Qualifying holding in a credit institution (arts. 22-27)
	Article 22 Notification and assessment of proposed acquisitions
	Article 23 Assessment criteria
	Article 24 Cooperation between competent authorities
	Article 25 Notification in the case of a divestiture
	Article 26 Information obligations and penalties
	Article 27 Criteria for qualifying holdings
	Chapter 3 Acquisition or divestiture of a material holding (arts. 27a-27e)
	Article 27a Notification and assessment of the acquisition
	Article 27b Assessment criteria
	Article 27c Cooperation between competent authorities
	Article 27d Notification of divestiture
	Article 27e Information obligations and penalties
	Chapter 4 Material transfers of assets and liabilities (arts. 27f-27g)
	Article 27f Notification of material transfers of assets and liabilities
	Article 27g Information obligations and penalties
	Chapter 5 Mergers and divisions (arts. 27h-27l)
	Article 27h Scope and definitions
	Article 27i Notification and assessment of the merger or division
	Article 27j Assessment criteria
	Article 27k Cooperation between competent authorities
	Article 27l Information obligations and penalties
	Title IV Initial capital of investment firms (arts. 28-32)
	Article 28 Initial capital of investment firms
	Article 29 Initial capital of particular types of investment firms
	Article 30 Initial capital of local firms
	Article 31 Coverage for firms not authorised to hold client money or securities
	Article 32 Grandfathering provision
	Title V Provisions concerning the freedom of establishment and the freedom to provide services (arts. 33-46)
	Chapter 1 General Principles (arts. 33-34)
	Article 33 Credit institutions
	Article 34 Financial institutions
	Chapter 2 The right of establishment of credit institutions (arts. 35-38)
	Article 35 Notification requirement and interaction between competent authorities
	Article 36 Commencement of activities
	Article 37 Information about refusals
	Article 38 Aggregation of branches
	Chapter 3 Exercise of the freedom to provide services (art. 39)
	Article 39 Notification procedure
	Chapter 4 Powers of the competent authorities of the host Member State (arts. 40-46)
	Article 40 Reporting requirements
	Article 41 Measures taken by the competent authorities of the home Member State in relation to activities carried out in the host Member State
	Article 42 Reasons and communication
	Article 43 Precautionary measures
	Article 44 Powers of host Member States
	Article 45 Measures following withdrawal of authorisation
	Article 46 Advertising
	Title VI Prudential supervision of third-country branches and relations with third countries (arts. 47-48r)
	Chapter 1 Prudential supervision of third-country branches (arts. 47-48q)
	Section I General provisions (arts. 47-48b)
	Article 47 Scope and definitions
	Article 48 Prohibition of discrimination
	Article 48a Classification of third-country branches
	Article 48b Conditions for qualifying third-country branches
	Section II Authorisation and regulatory requirements (arts. 48c-48l)
	Sub-Section 1 Authorisation requirements (arts. 48c-48d)
	Article 48c Minimum conditions for the authorisation of third-country branches
	Article 48d Conditions for the refusal or withdrawal of a third-country branch's authorisation
	Sub-Section 2 Minimum regulatory requirements (arts. 48e-48h)
	Article 48e Capital endowment requirement
	Article 48f Liquidity requirements
	Article 48g Internal governance and risk management
	Article 48h Booking requirements
	Sub-Section 3 Power to require authorisation under Title III and requirements on third-country branches which have systemic importance (arts. 48i-48j)
	Article 48i Power to require the establishment of a subsidiary
	Article 48j Assessment of systemic importance and requirements on third-country branches which have systemic importance
	Sub-Section 4 Reporting requirements (arts. 48k-48l)
	Article 48k Regulatory and financial information on third-country branches and on the head undertaking
	Article 48l Standard forms and templates and frequency of reporting
	Section III Supervision (arts. 48m-48q)
	Article 48m Supervision of third-country branches and supervisory examination programme
	Article 48n Supervisory review and evaluation process
	Article 48o Supervisory measures and powers
	Article 48p Cooperation between competent authorities and colleges of supervisors
	Article 48q Notification to EBA
	Chapter 2 Relations with third countries (art. 48r)
	Article 48r Cooperation with supervisory authorities of third countries regarding supervision on a consolidated basis
	Title VII Prudential Supervision (arts. 49-142)
	Chapter 1 Principles of prudential supervision (arts. 49-72)
	Section I Competence and duties of home and host Member States (arts. 49-52)
	Article 49 Competence of the competent authorities of the home and host Member States
	Article 50 Collaboration concerning supervision
	Article 51 Significant branches
	Article 52 On-the-spot checking and inspection of branches established in another Member State
	Section II Exchange of information and professional secrecy (arts. 53-62)
	Article 53 Professional secrecy
	Article 54 Use of confidential information
	Article 54a
	Article 55 Cooperation agreements
	Article 56 Exchange of information between authorities
	Article 57 Exchange of information with oversight bodies
	Article 58 Transmission of information concerning monetary, deposit protection, systemic and payment aspects
	Article 58a Transmission of information to international bodies
	Article 59 Transmission of information to other entities
	Article 60 Disclosure of information obtained by on-the-spot checks and inspections
	Article 61 Disclosure of information concerning clearing and settlement services
	Article 62 Processing of personal data
	Section III Duty of persons responsible for the legal control of annual and consolidated accounts (art. 63)
	Article 63 Duty of persons responsible for the legal control of annual and consolidated accounts
	Section IV Supervisory powers, powers to impose penalties and right of appeal (arts. 64-72)
	Article 64 Supervisory powers and powers to impose penalties
	Article 65 Administrative penalties, periodic penalty payments and other administrative measures
	Article 66 Administrative penalties, periodic penalty payments and other administrative measures for breaches of authorisation requirements and requirements for acquisitions or divestiture of material holdings, material transfers of assets and liabilities, mergers or divisions
	Article 67 Other provisions
	Article 68 Publication of administrative penalties
	Article 69 Exchange of information on penalties and maintenance of a central database by EBA
	Article 70 Effective application of administrative penalties and other administrative measures, and exercise of powers to impose penalties by competent authorities
	Article 71 Reporting of breaches
	Article 72 Right of appeal
	Chapter 2 Review Processes (arts. 73-110)
	Section I Internal capital adequacy assessment process (art. 73)
	Article 73 Internal Capital
	Section II Arrangements, processes and mechanisms of institutions (arts. 74-96)
	Sub-Section 1 General principles (arts. 74-75)
	Article 74 Internal governance and recovery and resolution plans
	Article 75 Oversight of remuneration policies
	Sub-Section 2 Technical criteria concerning the organisation and treatment of risks (arts. 76-87a)
	Article 76 Treatment of risks
	Article 77 Internal Approaches for calculating own funds requirements
	Article 78 Supervisory benchmarking of approaches for calculating own funds requirements
	Article 79 Credit and counterparty risk
	Article 80 Residual risk
	Article 81 Concentration risk
	Article 82 Securitisation risk
	Article 83 Market risk
	Article 84 Interest risk arising from non-trading book activities
	Article 85 Operational risk
	Article 86 Liquidity risk
	Article 87 Risk of excessive leverage
	Article 87a Environmental, social and governance risks
	Sub-Section 3 Governance (arts. 88-96)
	Article 88 Governance arrangements
	Article 89 Country-by-country reporting
	Article 90 Public disclosure of return on assets
	Article 91 Management body and suitability assessment
	Article 91a Key function holders and suitability assessment
	Article 92 Remuneration policies
	Article 93 Institutions that benefit from government intervention
	Article 94 Variable elements of remuneration
	Article 95 Remuneration Committee
	Article 96 Maintenance of a website on corporate governance and remuneration
	Section III Supervisory review and evaluation process (arts. 97-101)
	Article 97 Supervisory review and evaluation
	Article 98 Technical criteria for the supervisory review and evaluation
	Article 99 Supervisory examination programme
	Article 100 Supervisory stress testing
	Article 101 Ongoing review of the permission to use internal approaches
	Section IV Supervisory measures and powers (arts. 102-107)
	Article 102 Supervisory measures
	Article 103 Application of supervisory measures to institutions with similar risk profiles
	Article 104 Supervisory powers
	Article 104a Additional own funds requirement
	Article 104b Guidance on additional own funds
	Article 104c Cooperation with resolution authorities
	Article 105 Specific liquidity requirements
	Article 106 Specific publication requirements
	Article 107 Consistency of supervisory reviews, evaluations and supervisory measures
	Section V Level of application (arts. 108-110)
	Article 108 Internal capital adequacy assessment process
	Article 109 Institutions' arrangements, processes and mechanisms
	Article 110 Review and evaluation and supervisory measures
	Chapter 3 Supervision on a consolidated basis (art. 110a-127)
	Section I Application of this Chapter to investment firm groups (art. 110a)
	Article 110a Scope of application to investment firm groups
	Section I Principles for conducting supervision on a consolidated basis (arts. 111-118)
	Article 111 Determination of the consolidating supervisor
	Article 112 Coordination of supervisory activities by the consolidating supervisor
	Article 113 Joint decisions on institution-specific prudential requirements
	Article 114 Information requirements in emergency situations
	Article 115 Coordination and cooperation arrangements
	Article 116 Colleges of supervisors
	Article 116a Accessibility of information on the European single access point
	Article 117 Cooperation obligations
	Article 118 Checking information concerning entities in other Member States
	Section II Financial holding companies, mixed financial holding companies and mixed-activity holding companies (arts. 119-127)
	Article 119 Inclusion of holding companies in consolidated supervision
	Article 120 Supervision of mixed financial holding companies
	Article 121 Qualification of members of the management body
	Article 122 Requests for information and inspections
	Article 123 Supervision
	Article 124 Exchange of information
	Article 125 Cooperation
	Article 126 Penalties
	Article 127 Assessment of equivalence of third countries' consolidated supervision
	Chapter 4 Capital Buffers (arts. 128-142)
	Section I Buffers (arts. 128-134)
	Article 128 Definitions
	Article 129 Requirement to maintain a capital conservation buffer
	Article 130 Requirement to maintain an institution-specific countercyclical capital buffer
	Article 131 Global and other systemically important institutions
	Article 132 Reporting
	Article 133 Requirement to maintain a systemic risk buffer
	Article 134 Recognition of a systemic risk buffer rate
	Section II Setting and calculating countercyclical capital buffers (arts. 135-140)
	Article 135 ESRB guidance on setting countercyclical buffer rates
	Article 136 Setting countercyclical buffer rates
	Article 137 Recognition of countercyclical buffer rates in excess of 2,5 %
	Article 138 ESRB recommendation on third country countercyclical buffer rates
	Article 139 Decision by designated authorities on third country countercyclical buffer rates
	Article 140 Calculation of institution-specific countercyclical capital buffer rates
	Section III Capital conservation measures (arts. 141-142)
	Article 141 Restrictions on distributions
	Article 141a Failure to meet the combined buffer requirement
	Article 141b Restriction on distributions in case of failure to meet the leverage ratio buffer requirement
	Article 141c Failure to meet the leverage ratio buffer requirement
	Article 142 Capital Conservation Plan
	Title VIII Disclosure by competent authorities (arts. 143-144)
	Article 143 General disclosure requirements
	Article 144 Specific disclosure requirements
	Title IX Delegated and implementing acts (arts. 145-149)
	Article 145 Delegated Acts
	Article 146 Implementing acts
	Article 147 European Banking Committee
	Article 148 Exercise of the delegation
	Article 149 Objections to regulatory technical standards
	Title X Amendments of Directive 2002/87/EC (art. 150)
	Article 150 Amendments of Directive 2002/87/EC
	Title XI Transitional and final provisions (arts. 151-165)
	Chapter 1 Transitional provisions on the supervision of institutions exercising the freedom of establishment and the freedom to provide services (arts. 151-159)
	Article 151 Scope
	Article 152 Reporting requirements
	Article 153 Measures taken by the competent authorities of the home Member State in relation to activities carried out in the host Member State
	Article 154 Precautionary measures
	Article 155 Responsibility
	Article 156 Liquidity supervision
	Article 157 Collaboration concerning supervision
	Article 158 Significant branches
	Article 159 On-the-spot checks
	Chapter 1A Transitional provisions on financial holding companies and mixed financial holding companies (art. 159a)
	Article 159a Transitional provisions on approval of financial holding companies and mixed financial holding companies
	Chapter 2 Transitional provisions for capital buffers (art. 160)
	Article 160 Transitional provisions for capital buffers
	Chapter 3 Final provisions (arts. 161-165)
	Article 161 Review and report
	Article 162 Transposition
	Article 163 Repeal
	Article 164 Entry into force
	Article 165 Addressees
	Annex I List of activities subject to mutual recognition
	Annex II Correlation table
	Done at