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Capital Requirements Directive (CRD)
The Capital Requirements Directive and the accompanying Capital Requirements Regulation are two pieces of European Union legislation that set out rules for the prudential regulation of authorised banks, referred to as credit institutions. The first version of the CRR, passed in 2013, also introduced rules on pay, including a cap on bonuses for executives and material risk-takers.
The latest draft of these rules, produced by the European Commission in November 2016 and still awaiting approval, will implement the standards agreed in the Basel III package, including the leverage ratio, the net stable funding ratio and the Fundamental Review of the Trading Book.
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