On 26 June 2004,2004 the BCBS adopted a framework agreement on the international convergence of capital measurement and capital requirements (‘Basel(‧Basel II framework’).framework‧). The provisions in Directives 2006/48/EC and 2006/49/EC that this Regulation has taken over areform an equivalent to the provisions of the Basel II framework. Consequently, by incorporating the supplementary elements of the Basel III framework this Regulation isforms an equivalent to the provisions of the Basel II and III frameworks.