Recital 1

(1)Regulation (EU) No 575/2013 incorporates the internationally-agreed standards of the Basel Committee on Banking Supervision’s third International Regulatory Framework for banks ² (hereinafter referred to as ‘Basel III’). Therefore, and also given that the objective of disclosure requirements is to help improve transparency in the area of regulatory capital, for comparison purposes, the rules set out for disclosure by institutions supervised under Directive 2013/36/EU of the European Parliament and of the Council ³ should be consistent with the international framework reflected in the ‘Composition of Capital disclosure requirements’ ⁴ of the Basel Committee for Banking Supervision adapted to take into account the Union regulatory framework and its specificities.