Updated 05/02/2025
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BRRD ToolBank Recovery and Resolution Directive (BRRD)
Article 120

Article 120 - Directive 2014/59/EU (BRRD)

Article 120

Amendment to Directive 2005/56/EC

In Article 3 of Directive 2005/56/EEC, the following paragraph is added:

‘4.   Member States shall ensure that this Directive does not apply to the company or companies that are the subject of the use of resolution tools, powers and mechanisms provided for in Title IV of Directive 2014/59/EU of the European Parliament and of the Council (*7).