The subject matter of the contract is a thorough analysis of the potential consequences of the public disclosure by institutions required by Article 89 of the Capital Requirements Directive (CRD), in particular as regards the information contained in Article 89(1)(d), (e) and (f) thereof, including the impact on competitiveness, investment and credit availability and the stability of the financial system. The contractor's study will represent an important input to the Commission's own assessment and report required under Article 89(3) of CRD. In view of the deadline of 31.12.2014 for submission of the Commission's report to the European Parliament and the Council, the completion of the contract to a high standard of quality and within the very tight time-frame required is of the utmost importance.