Implementation details
The CRD came into force on 1 January 2008. This page provides updates and links on our implementation of the directive. It should be read in conjunction with other pages in this section.
The FSA Handbook rules implementing CRD
The final GENPRU and BIPRU rules implementing the CRD are available in the Handbook section of this website:
We have also developed some supporting material to assist firms subject to GENPRU and BIPRU:
- Navigational flowcharts to help firms identify which rules apply to them and orientate themselves as they approach certain chapters.
- Explanatory notes to help firms understand the requirements contained in certain chapters.
Other instruments that have been made as a result of the CRD, including CRD consequential amendments (to other parts of the Handbook) and the Building Societies Regulatory Guide, can also be found in the FSA Handbook section of the website: Instruments.
The capital floors
The CRD, like the Basel Framework, sets a number of floors which will be applied during the first three years the new rules operate. The floors are not relevant for firms on the standardised approach to credit risk. However, they are an important issue for all firms using the Foundation and Advanced risk-based approaches.
Their purpose in effect is to restrict the extent to which firms can benefit from reductions in capital until the implementation of the CRD and Basel Framework can be more fully understood for individual firms and the financial system as a whole. The table below sets out the gradually decreasing effects that the floors will have from 1 January 2007 until 1 January 2010.
| Capital floors during the first three years of operation of the new rules | |
|---|---|
| 2007 | 95% |
| 2008 | 90% |
| 2009 | 80% |
Regulatory reporting under CRD
Information on regulatory reporting for CRD-scope firms is available on the Integrated Regulatory Reporting pages.
We published an update on reporting changes for 2008.
