Editing Capital Adequacy Directive

{{EngvarB|date=July 2018}}
{{Use dmy dates|date=July 2018}}
{{Infobox EU legislation 
| number    = 93/6/EEC
| type      = Directive 
| title     = on the capital adequacy of investments firms and credit institutions 
| madeby    = [[Council of the European Communities]]
| madeunder = first and third sentences of Article 57 (2) of [[Treaty establishing the European Economic Community|TEEC]]
| OJref     = <small>OJ L 141, 11 June 1993, p. 1–26</small>
| OJrefurl = http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.1993.141.01.0001.01.ENG&toc=OJ:L:1993:141:TOC 
| made      = 15 March 1993 
| implementation      = 1 July 1995
| application         =  31 December 1995
| status = repealed
| amendedby = Directive 98/33/EC, Directive 2002/87/EC, Directive 2004/39/EC and Directive 2005/1/EC
| replacedby = Directive 2006/49/EC
}}{{More citations needed|date=April 2021}}
The '''Capital Adequacy Directive''' was a European directive that aimed to establish uniform [[capital requirement]]s for both banking firms and non-bank securities firms, first issued in 1993 and revised in 1998.  These was superseded by the [[Capital Requirements Directive]]s starting in 2006.

==History==
The original 93/6/EEC (CAD1) directive was amended by 98/31/EEC (CAD2), to incorporate banks' own estimate of capital using [[value at risk|value-at-risk]] techniques.  Annex 1 models were virtually unchanged by CAD2, so there has been no change in the CAD1 regime.

A third revision of the directive 2006/49/EC was issued on 14 June 2006 and would use the new name of [[Capital Requirements Directive]] (CRD).  This came into force together with recast of a related banking directive on 20 July 2006.  The main change was the adoption of [[Basel II]] guidelines into the directive.<ref>{{cite web |url=http://ec.europa.eu/internal_market/bank/regcapital/legislation_in_force_en.htm|archive-url=https://web.archive.org/web/20130627202127/http://ec.europa.eu/internal_market/bank/regcapital/legislation_in_force_en.htm|archive-date=27 June 2013 |title=Capital Requirements Directive: legislation in force |publisher=European Commission |accessdate=3 June 2013}}</ref>

In 2009, 2010, and 2013, three further revisions were issued known as CRD II, CRD III, and CRD IV. The legislation on this matter current {{As of|2016|lc=y}} is known as the CRD IV package ([[Capital Requirements Regulation and Directive]]).

==References==
{{reflist}}

==External links==
For further information see the [[European Commission]] web site: [https://web.archive.org/web/20060711060130/http://ec.europa.eu/internal_market/bank/regcapital/index_en.htm Free movement of services / Financial Services / Banking / Regulatory Capital]

[[Category:Banking in the European Union]]
[[Category:Financial regulation]]
[[Category:European Union directives]]
[[Category:European Union financial market policy]]
[[Category:Capital requirement]]