From the beginning of 2007 the new Capital Requirements Directive (CRD), acknowledged by the Bank of Italy with its circular letter n. 263/2006, is effective as the common framework for implementing the Basel II regulations in EU.

In the CRD it is also stipulated that institutions should disclose capital and risk management under Pillar III rules.
Specifically, Pillar III presents a set of disclosure requirements that should improve market participants' ability to assess banks' capital structures, risk exposures, risk management processes and, hence, their overall capital adequacy.