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Public statement on EC banking package

EACRA welcomes the European Commissions proposed Banking package implementing the Basel III reform in Europe. In our view, the ECs overall approach corresponds to a faithful implementation of the globally agreed banking standards taking into account European specificities and the target to contain capital increases on banks. We believe that the proposed timetable (with an expected entry into force by January 2025 and gradual implementation of the output floor until end 2030) allows for both an unrushed legislative process as well as enough time for banks and all other stakeholders to adapt to the new envisaged rules.