The Basel III capital accord of 2010 is subject to further evaluation and revisions. The industry refers to these changes as “Basel IV” in view of the expected significant impact that the further proposals of the Basel Committee may have. The Committee itself considers the various proposals as necessary calibration of the existing framework, in order to deal with some of the flaws of the existing framework, but rejects the view that the changes will result in a complete overhaul. In this article one of the current proposals, the revisions to the standardised approach for bank credit risk measurement, is discussed from a European perspective. It is concluded that some parts of the Basel Committee proposals are already comprised in the currently applicable Capital Requirements Regulation provisions. Other parts of the proposals, particularly those concerning the risk weighting of residential property loans and commercial real estate, will bring important changes to the existing CRR rules, provided that these changes are consistent with developments in parallel with European policies.