(79)In the light of the financial crisis and the pro-cyclical mechanisms that contributed to its origin and aggravated its effect, the FSB, the Basel Committee on Banking Supervision (BCBS), and the G-20 made recommendations to mitigate the pro-cyclical effects of financial regulation. In December 2010, the BCBS issued new global regulatory standards on bank capital adequacy (the Basel III rules), including rules requiring the maintenance of capital conservation and countercyclical capital buffers.
◷
New version applies from 20/03/2014 — introduced by Mortgage Credit Directive.
109 provisions change.
Later versions: 01/01/2015, 13/01/2018, 09/07/2018, 29/12/2020, 28/06/2021, 01/01/2022, 09/01/2024, 29/07/2024, 30/12/2024, 17/01/2025, 11/01/2026, 11/07/2026.
Recital 79 changes in this version: compare with the current text.