On 27 June 2013, the Capital Requirements Regulation (CRR) and the CRD IV Directive were published in the Official Journal of the European Union. CRD IV implements the Basel III reforms in the European Union and the CRD IV Directive repeals the Capital
Requirements Directive with effect from 1 January 2014.
The CRR entered into force on 28 June 2013 and, with the exception of certain provisions, will apply from 1 January 2014. The Directive enters into force on the twentieth day following its publication in the Official Journal. The deadline for Member States
to transpose the Directive and to apply its provisions is 31 December 2013. The Council of the European Union had announced on 20 June 2013, that it had adopted without discussion the proposed CRR and the proposed CRD IV Directive.