30/05/2024 (Agence Europe) – On Thursday 30 May, the Council of the European Union formally adopted the legislative package to finalise the introduction in the EU of the so-called ‘Basel III’ prudential standards on banking (see EUROPE 13210/1). Introduced in stages between now and 2030, the legislative package includes an output floor for each entity in a banking group that uses an internal model to calculate their capital requirements in relation to the risks that they take. Other provisions concern the assessment of whether managers of a systemic bank are fit-and-proper and the supervision of branches included in third country banking groups that operate within the EU. Read the regulation and the adopted directive here: https://aeur.eu/f/cg0; https://aeur.eu/f/cg1 (MB)