Stats › Valuation › Delayed two years
Europe has postponed the revised market risk capital rules twice, for two years in total
| Instrument | Signed | Published | Effect |
|---|---|---|---|
| Commission Delegated Regulation (EU) 2024/2795 | 24 July 2024 | 31 October 2024 | Inserts Article 520a into the capital requirements regulation: the pre-revision rules apply until 1 January 2026 |
| Commission Delegated Regulation (EU) 2025/1496 | 12 June 2025 | 19 September 2025 | Replaces Article 520a: the pre-revision rules apply until 1 January 2027 |
Both instruments rest on the same legal basis, Article 461a(2) of the capital requirements regulation. The union date of application of 1 January 2025 that the delays run from is our own derivation; it is not quoted as such in either instrument.
The revised trading book framework took international effect on 1 January 2023. Two Commission delegated regulations, in 2024 and again in 2025, kept the old rules in force in the union. As at October 2026 the revised framework still does not apply there.
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