CRR III: Key provisions and challenges for banks

Join KPMG’s Risk Consulting experts for a focused training on CRR III, the latest update to the EU’s Capital Requirements Regulation, effective 1 January 2025. This session will explain the key changes impacting European banks and large investment firms, including revised methodologies for calculating minimum capital requirements across Credit, Market, Operational, and CVA Risk.

You'll gain practical insights into:

• The evolution from CRR/CRR II to CRR III (EU amending Regulation 2024/1623)
• Impacts on Pillar 1 capital adequacy calculations
• Implementation challenges and practical examples

Ideal for risk, compliance, and finance professionals, this training will help you navigate the regulatory shift with clarity and confidence.

By the end of the seminar, participants will be able to:

1. Describe the main changes introduced by the Capital Requirements Regulation (CRR) III.
2. Name the key capital adequacy calculation areas affected most materially by the new rules.
3. Specify the new concepts and terminologies introduced by the CRR III framework.
4. Identify gaps in their organisation’s data and processes.
5. Implement the CRR III methodologies to their own capital adequacy calculations.
6. Explain the key drivers of the CRR III impact on their organization.
7. Justify the deviations in the CRR III results compared to the results obtained under the previous (CRR II) methodologies.
8. Compare the CRR III methodologies to the CRR/CRR II ones and explain the discrepancies. 

This seminar is addressed to officers serving in a number of functions within banks, including Directors, General Managers, CEOs, CFOs, Heads of Risk Management Functions, Credit Risk Officers, Market and Liquidity Risk Officers, Operational Risk Officers, Accounting and Finance Control Officers, Heads of Compliance Functions and Compliance Officers, Heads of Internal Audit Functions and Internal Audit Officers and any other relevant professionals involved in Regulatory Reporting, Treasury/Proprietary Trading Functions and Information Systems Officers.

All participants should be currently employed.

*The number of participants is restricted to 28.

1. Introduction (30 min)

• Objectives of the seminar
• Drivers and purpose of the revisions to the Basel III framework
• Summary of key changes introduced by the Capital Requirements Regulation (CRR) III / Capital Requirements Directive (CRD) VI rules
• Challenges in CRR III and CRD VI implementation

2. Credit Risk  (3 h & 30 min)

• Revisions to the Standardised Approach for Credit Risk
  • Deriving the Credit Risk exposure
  • CRR III amendments in the treatment of selected asset classes and exposures
  • Numerical Examples

• Credit Valuation Adjustment (CVA) Risk
• Credit Risk Mitigation 

3. Operational Risk  (30 min)

• New Standardised Approach for Operational Risk
• Numerical Example

4. Market Risk: Fundamental Review of the Trading Book (FRTB)  (45 min)

• FRTB purpose and main provisions
• Main industry concerns and adoption status 

5. Output Floor (15 min)

• Meaning and purpose
• Transitional provisions 

6. Other Topics (30 min)

• Large Exposures
• Leverage Ratio
• Disclosures 

Our services include:

• Handouts, including the hard copy presentation, examples, case studies, exercises, and additional notes, if applicable.
• Stationery, such as pads, pens, and files.
• Drinks (coffee, tea, etc.) and a buffet lunch.
• A fully equipped training room.
• Certificate of completion.

If you wish to register for the seminar, please complete the registration form.

Once your registration is submitted, you will receive an email stating how to proceed with your HRDA registration through the Ermis platform. Upon completion of this step, you will receive a confirmation email which will include the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the seminar’s date for your registration to be confirmed.

The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available, therefore enroll in this seminar as soon as possible.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.
 

Cost

€265 + VAT (19%) for all participants who are non-eligible for the HRDA subsidy.

€145 net investment after the HRDA subsidy (€120) for all eligible participants.*

Extra discounts may apply to the initial price, before the VAT and HRDA subsidy. Please view options below.
 

Note

We do not provide a soft copy of the presentation for face-to-face seminars. However, if you would like to request one, please contact us. We may be able to provide it, subject to approval. In this case, the cost of the soft copy will be €50 for participants who have already attended the relevant training, or €100 for those who have not.

HRDA Note

All individuals who wish to attend our HRDA approved training courses should not only fill out our registration form, but also complete the registration process through the ERMIS platform. Regardless of whether they are claiming the HRDA subsidy or not, each participant will need to complete their registration through ERMIS as a physical person and then register to our training in order to be able to attend (either as an employee whose company is claiming the subsidy or as an individual who is not claiming the subsidy). Please reach out to the HRDA Ermis officers on 22 390 300 for more details regarding the registration as a physical person.

Discounts available

• For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enroll in the same seminar, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• For individuals/legal entities who/which register in more than two (3+) seminars during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enroll in more than two (3+) seminars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early bird discount and the HRDA subsidy, when applicable. For more information on our alumni scheme, click here.
• HRDA subsidy for all HRDA approved seminars. 
• Please note that while participants may qualify for multiple discounts, a maximum of two discounts, up to a total of 20%, can be applied per registration.

Contact

For any queries, please contact KPMG Academy on +357 22 207 460 or at academy@kpmg.com.cy

CPD

This seminar may contribute to Continuing Professional Development requirements. At the end of the seminar participants will be given a certificate of attendance confirming the total number of training hours (6 CPD).

Marios Lazarou
Board Member, Head of Advisory, KPMG in Cyprus

Marios heads  the Advisory Department of KPMG in Cyprus. He has more than 25 years of advisory experience in the Financial Services sector. In recent years, he has been involved in multiple advisory engagements in the areas of banking, risk and regulation, with emphasis on capital adequacy, credit risk processes and procedures and risk quantification and stress testing. He was the Cyprus Champion for the KPMG AQR Forum at the EU level.

Since 2023 Marios and his team have been supporting the majority of local banks with their transition towards the CRR III / Basel IV framework, through gap analyses and quantitative impact assessments, as well as by supporting them with  their implementation efforts.

In  recent years, he has contributed to certain high-profile projects in the Cyprus financial services industry as a regulatory and banking expert, either by leading the projects or by supporting KPMG’s teams from the UK and the Netherlands. He has also led several projects for the implementation and design of ICAAP frameworks, for more than 10 banks in Cyprus and in Europe.

Furthermore, he has delivered numerous Risk-related training sessions,  and he has also trained the board of directors of almost all banks in Cyprus on regulatory, risk management and other banking topics. 

In 2015, he was certified by the HRDA as a “Trainer of Vocational Training”.

Artemis Hadjivarnava
Principal, Capital Adequacy Lead, Risk Consulting, KPMG in Cyprus

Artemis is a Principal in the Risk Consulting department of KPMG in Cyprus, with more than 17 years of experience in the financial services advisory field. She heads the Capital Adequacy consulting team and has extensive experience in the implementation of various assurance and advisory engagements in banks, investment firms and payment / e-money institutions, in relation to Capital Adequacy Calculations and Impact Studies (CRR/CRD, IFR/IFD), Capital Adequacy seminars, Consolidated Supervision, ICAAPs, Pillar 3 Disclosures, Operational Risk Management Frameworks, Client Assets, Internal Controls and overall Regulatory Compliance.

Artemis has participated in numerous Basel II & III (Pillar 1) projects with several banks and investment firms in Cyprus, and more recently in a number of CRR III (Basel IV) Gap Analyses and Impact Studies with local banks, as well as advisory projects for supporting banks in bridging gaps and achieving a CRR III implementation state. Artemis has also been delivering hands-on seminars on Basel I, II, III & IV with the aim of helping institutions better understand the provisions of this prudential framework, while she has also been extensively involved in the drafting and review of Pillar 3 disclosures of institutions, ensuring they are in line with the prudential framework and related guidance.

She has also performed audits of Pillar 1 calculations, participated in the implementation of a Basel III Pillar 1 calculations engine in two of the largest local banking institutions, performed numerous capital efficiency analyses, risk-weighted assets optimization exercises and capital impact studies, and delivered educational, hands-on seminars on capital adequacy regulatory provisions to banks, investment firms and to their supervisory authorities over the years.

Moreover, Artemis has participated in the development of Operational Risk software systems for banks, has delivered seminars on the proper measurement and management of Operational Risk and has carried out internal control reviews of banks’ Operational Risk departments.

In 2015, she was certified by the HRDA as a “Trainer of Vocational Training”.

Olivia Pittalis
Manager, Capital Adequacy, Risk Consulting, KPMG in Cyprus

Olivia has been a Manager in the Risk Consulting department of KPMG in Cyprus for the past three  years, with a prior experience of 13 years within the Risk Department of the Banking industry.

She is a member of the Capital Adequacy consulting team and has gained extensive experience in the implementation of various assurance and advisory engagements for banks and investment firms, relating to Capital Adequacy Calculations and Impact Studies (CRR/CRD, IFR/IFD), ICAAPs, Pillar 3 Disclosures, and overall Regulatory Compliance.

Olivia has participated in numerous Basel III (Pillar 1) projects with several investment firms in Cyprus, and recently undertook a number of CRR III (Basel IV) Gap Analyses and Impact Studies with local banks, as well as advisory projects supporting banks in bridging gaps and achieving a CRR III implementation readiness. Olivia has also been assisting in the delivery of seminars on Basel IV aimed at helpinginstitutions better understand the provisions of this prudential framework, while she has also been extensively involved in the drafting and  review of Pillar 3 disclosures of institutions, ensuring they are in line with the prudential framework and related guidance.