Directive 2009/111/EC
CRD II package
On 16 September 2009, the Council and the European Parliament officially adopted Directive 2009/111/EC, which is part, together with Directives 2009/27/EC and 2009/83/EC, of the second legislative package aimed at ensuring the financial soundness of banks and investment firms. The main amendments introduced aimed at improving the management of large exposures, the quality of banks' capital, the liquidity risk management and the risk management for securitised products. The 'colleges of supervisors' were established for banking groups that operate in multiple EU countries. These amendments formed part of the Commission’s response to the financial crisis by strengthening the regulatory framework in those areas which were relevant to the causes of the crisis.