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  • Final Draft Technical Standards under Bank Recovery and Resolution Directive

    07/03/2015

    The European Banking Authority has published the following final draft Regulatory Technical Standards which it is responsible for preparing under the EU Bank Recovery and Resolution Directive:
     
    1. RTS on the operational functioning of resolution colleges which will be established for groups that operate on a cross-border basis in the European Economic Area. The RTS set out details on the establishment of a college, describe the resolution planning process, provide for the manner in which the resolution of a cross-border group should be undertaken, the exchange of information and interaction between resolution authorities, the requirements for EU resolution authorities to develop a framework for involvement of third country resolution authorities and the process for reaching decisions in the event of disagreement between resolution authorities.

    2. RTS on notification which set out the process and information required for firms to notify their national regulators that the firm is failing or likely to fail, for national regulators to then notify the resolution authority and the publication by the resolution authority of the resolution action taken using its powers under the BRRD. The RTS also cover the situation where the national regulator assesses for itself that a firm is likely to fail or is failing.

    The RTS will, once they enter into force, apply directly across the EU.

    View the RTS on resolution colleges.

    View the RTS on notification requirements.