CRD VI enters into force in the Netherlands

On 22 September 2026, the Dutch Capital Requirements Directive VI (CRD VI) implementation act (the Implementation Act) and decree (the Implementation Decree) entered into force. This long-awaited Implementation Act transposes the substantive changes introduced by CRD VI to the prudential regulatory framework for banks into Dutch law. The more technical capital regulatory framework for banks is already changing significantly as a result of the revised Capital Requirements Regulation (CRR III), which has been coming into force gradually since July 2024.

Key aspects of the Implementation Act

The material amendments to, amongst other things, the Dutch Financial Supervision Act (Wet op het financieel toezicht, Wft) arising from the CRD VI Implementation Act are fourfold. Just to highlight a few matters:

(i) Harmonisation of supervisory powers and tools

These amendments aim to achieve further harmonisation of supervisory powers and tools within the EU, with a view to preventing significant differences between EU Member States. This includes, for example, harmonisation regarding fitness and propriety assessments for key function holders and the imposition of administrative sanctions. It also includes a harmonised set of supervisory approvals / declarations of no-objections for certain material transactions at a bank. As a result of the harmonised implementation of the CRD VI material transaction approval grounds, the former catch-all declaration of no-objection requirement for ‘financial or corporate reorganisations’ at a bank (Section 3:96(1)(e) Wft) has been removed.

(ii) Branches from third countries

Due to the differences between EU Member States regarding the supervision of branches of banks from third countries (non-EU), the amendments to CRD VI also aim to create a harmonised regime for branches from third countries (third country branch regime, TCB regime). In short, this TCB regime requires a specific licenced branch in a Member State if a bank from outside the EU offers typical core banking services in an EU Member State (taking deposits/repayable funds, granting loans, providing guarantees). These amendments are also described in greater detail in our previous publication on CRD VI and CRR III (in Dutch). The TCB regime does not apply if the non-EU entity can use one of four (strictly applied) exemptions (i) services to a bank, (ii) reverse solicitation services, (iii) services to a group company, or (iv) services resulting from MiFID II investment services.

CRD VI contains an 11 July 2026 transition date for core banking services agreements. This date has also been included in the Dutch implementation, so also applies in relation to contracts of non-EU banks with Dutch clients. Such agreements entered into after 11 July 2026 will fall under the TCB-regime. In addition, the Dutch legislature has not made use of the Member State option to subject third-country branches to the same regulations as regular banks in the Netherlands. Given that the TCB regime already imposes fairly stringent requirements on these branches, the Dutch legislature did not consider it necessary or appropriate to subject third-country branches to an even more extensive set of requirements such as those applicable to regular banks. The application of the TCB regime will follow on 11 January 2027.

We wrote a lengthy piece on the TCB regime for the Dutch Financial Law Journal: https://finnius.com/wp-content/uploads/2026/06/B-Bierman-crd-vi-een-nieuw-regime-voor-kernbankdiensten-van-buiten-de-eu-TFR.pdf. The article is in Dutch, so please reach out if you wish to receive an English version. Published in March 2026, the article still dealt with the draft texts of the Implementation Act. One of the implementation issues flagged in the article was the inclusion of the prohibition for non-EU parties to attract repayable funds from others than the public in the Netherlands (in Section 3:5 of the Dutch Financial Supervision Act). That issue has fortunately been repaired by the Dutch Ministry of Finance in a later version: https://www.eerstekamer.nl/behandeling/20260527/gewijzigd_voorstel_van_wet/document3/f=/vmy4ba2lp7np.pdf.

(iii) Focus on ESG risks

These amendments aim to incorporate environmental, social and governance risks (ESG risks) as specific risks that must be managed by banks. In this way, ESG risks will be fully integrated into banks’ internal governance and specifically addressed in the supervision of banks by national supervisory authorities. See also our previous publication on CRD VI and CRR III (in Dutch) for further context on these amendments.

(iv) Independence of national supervisory authorities

The fourth area in which CRD VI introduces changes is the strengthening of the independence of national supervisory authorities. This includes, amongst other things, minimum requirements regarding the prevention of conflicts of interest amongst supervisory authorities, which will later be supplemented by guidelines from the EBA.

What else is to come?

The above provides only a brief summary of the key points of the Implementation Act and the Implementation Decree, but the changes are plenty, detailed and impactful. Many Dutch banks have already made a gap analysis of their existing policy framework and practices to accommodate for the changes CRD VI brings. We advise those who have not done so to prioritise this. Also, non-EU parties which provide core banking services to Dutch customers should carefully check whether they can use one of the exemptions of the TCB regime (e.g., if their activities should be considered reverse solicitation), or are otherwise required to take steps to ensure compliance with the new rules.

Still, some other important interpretive questions around the CRD VI package remain. We expect some very important harmonised