This Regulation amends Regulation (EU) No 575/2013 to implement the finalised Basel III package in EU law. It introduces an aggregate output floor (72.5% phased‑in 2025–2029), strengthens the Standardised Approach for credit risk (including SA‑CR recalibration, specialised lending and mortgage treatments), restricts and harmonises IRB use, mandates PD/LGD/CCF input floors, revises CVA and securitisation rules, and completes the FRTB market‑risk reform with targeted mitigations. It also replaces advanced operational‑risk models with a single standardised indicator approach and sets detailed transitional arrangements.

The text empowers EBA, ESAs and the Commission to produce technical standards, reports and delegated acts, requires a centralised EBA disclosure platform, extends ESG and crypto reporting and prescribes temporary crypto prudential treatment. It clarifies consolidation definitions, tightens supervisory powers, and mandates periodic reviews (holistic banking review, securitisation, SFT haircuts, specialised lending) with specific reporting deadlines for legislative follow‑up where appropriate.