Further legislation with a slightly longer time horizon
Looking beyond December 2020, the next set of RTSs which are listed in Table 2 below, will cover draft Implementing Technical Standards on liquidity requirements, additional policy and own funds disclosures, a new remuneration code and supervisory information including the new SREP. The implementation of most of these are on a 18-month time horizon (from the proposed directive and regulation issued in December 2019) and accordingly, we can expect the final text of the standards to be published by June 2021.
Table 2 – Final legislation expected to be published by June 2021 (18 months from EIF*)
*EIF: entry into force is 26 December 2019
Beyond this there are additional requirements that are due to be implemented between 2022 and 2025 under the Supervisory Convergence and SREP and ESG factors and risk mandates.