The single rulebook, which is aimed at providing a single set of harmonised prudential rules throughout the EU, will be the cement that holds together the single market for financial services. The adoption of the Capital Requirements Regulation and Capital Requirements Directive in April 2013 was therefore an essential step towards strengthening the stability and resilience of the banking sector.
In parallel, banks will have to satisfy the requirements of the bank recovery and resolution directive which comes into force in 2015, by developing recovery plans, cooperating with resolution authorities and making necessary changes to capital holdings, business activities, legal and operating structures.