On 29 March 2021, there was published in the Official Journal of the EU (OJ) Commission Delegated Regulation (EU) 2021/539 of 11 February 2021 amending Delegated Regulation (EU) No 1222/2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards (RTS) for the specification of the methodology for the identification of global systemically important institutions and for the definition of subcategories of global systemically important institutions. The Commission Delegated Regulation enters into force on the day following its publication in the OJ and certain provisions apply from 1 December 2021.
The need for the revision was prompted by the revised framework introduced by the Basel Committee on Banking Supervision in July 2018 to identify global systemically important banks as well as by the new requirements laid down in the fifth Capital Requirements Directive, which recognise the importance of cross-border activities within the European Banking Union area.