On 7 June 2019, a new regulation amending the Capital Requirement Regulation (EU) 575/2013 ("CRR") was published in the Official Journal of the European Union, i.e. Regulation (EU) 2019/876 of 20 May 2019 amending CRR and Regulation (EU) 648/2012 ("CRR II").

CRR II will for the most part be applicable as of 28 June 2021 and the amendments include inter alia, the introduction of a more precise definition of small and non-complex institutions, new requirements relating to leverage ratio, net stable funding ratio and own funds as well as the implementation of the total loss-absorbing capacity (TLAC) standard.

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