CRD / CRR
Definition
Capital Requirements Directive (2013/36/EU) / Capital Requirements Regulation (EU No 575/2013). The EU legislative framework implementing Basel III.
What This Actually Means
The EU's legal implementation of Basel standards. CRD is the directive (implemented into national law by each member state), CRR is the regulation (directly applicable). IRRBB requirements sit primarily under CRD Article 84 and the EBA guidelines that flow from it.
Where It Matters
The CRD/CRR framework is what gives the EBA its mandate to issue IRRBB guidelines. If you're operating in the EU or EEA, this is your legal basis. The UK has its own implementation post-Brexit through the PRA rulebook.