The development of supervision and regulation for the financial industry remains dynamic

Since the end of the 2008/2009 financial crisis, numerous new and banking supervisory regulations that may be further tightened have made their mark on the sector. The implementation of Basel III in the Capital Requirements Directive (CRD) and Regulation (CRR), including the additional details and specifications of the Implementing and Regulatory Technical Standards (ITS and RTS), is just one example. Furthermore, there was a fundamental revision of the European supervisory mechanism with the introductions of both the Single Supervisory Mechanism (SSM) and the recovery and resolution regime.