Contrôle Prudentiel
Introduction On 20 July 2011, the European Commission published the CRD IV Proposal, its implementation of the Basel 3 changes discussed internationally. The proposals are designed to strengthen and stabilise the banking and wider financial systems. CRD IV consists of a Regulation (CRR), establishing the prudential requirements for individual institutions, and a Directive (CRD), governing the access to deposit taking activities. The CRR and CRD are complimentary and together establish the new banking regulatory framework that will eventually replace the existing Capital Requirements Directives. While Member States will have to transpose the Directive into national law as per usual procedures, the Regulation is directly applicable in Member States with no need for transposition. By using a Regulation, the Commission aims to remove major divergences in national interpretation of the text and speed up the implementation process. The Commission has framed its proposal with a view to allowi