The legal framework consists of an intricate web of directives and regulations: on the supervision side are the Capital Requirements Directive (CRD), the Capital Requirements Regulation (CRR) and the SSM Regulation; on the crisis management side, the Bank Recovery and Resolution Directive (BRRD) and the SRM Regulation, together with the Communication of the EU Commission on the application of State-aid rules to banks (Banking Communication).
In both areas, the European Banking Authority (EBA, an authority currently based in London but soon to move to Paris, in charge of prudential regulation) has issued a number of implementing guidelines and technical standards. In substance, European banks have become European only in one sense: they are supervised and resolved at the European level.