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Updated 18/10/2024

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In force since 28/07/2016

Version from: 08/07/2016

References (43)

EBA webpage on this legal act

eba.europa.eu/activities/single-rulebook/regulatory-activities/resolution/regulatory-technical-standards

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-technical-5

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-12

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-10

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-technical-2

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-technical-3

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-technical-9

eba.europa.eu/activities/single-rulebook/regulatory-activities/recovery-resolution-and-dgs/regulatory-11

Timeline

08/07/2016

Delegated Regulation 2016/1075 published in OJ

09/07/2015

EBA/RTS/2015/08

Final Draft published

06/07/2015

EBA/RTS/2015/07

Final Draft published

03/07/2015

EBA/RTS/2015/06

Final Draft published

03/07/2015

EBA/RTS/2015/03

Final Draft published

03/07/2015

EBA/RTS/2015/04

Final Draft published

19/12/2014

Consultation published

19/12/2014

EBA/RTS/2014/15

Final Draft published

18/12/2014

Consultation published

05/11/2014

Consultation published

18/07/2014

EBA/RTS/2014/11

Final Draft published

18/07/2014

EBA/RTS/2014/12

Final Draft published

11/07/2014

Consultation published

09/07/2014

Consultation published

20/05/2013

Consultation published

11/03/2013

Consultation published

Search within this legal act

Synchronised with EUR-Lex on 18/10/2024

BRRD Tool Delegated Regulation 2016/1075

Delegated Regulation 2016/1075

Commission Delegated Regulation (EU) 2016/1075 of 23 March 2016 supplementing Directive 2014/59/EU of the European Parltime and of the Council with regard to regulatory technical standards specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent authority is to assess as regards recovery plans and group recovery plans, the conditions for group financial support, the requirements for independent valuers, the contractual recognition of write-down and conversion powers, the procedures and contents of notification requirements and of notice of suspension and the operational functioning of the resolution colleges (Text with EEA relevance)

CHAPTER I - COMMON PROVISIONS AND RECOVERY PLANS (Article 1-21)

SECTION I - Common provisions (Article 1-2)Article 1 - Subject matter Article 2 - Definitions

SECTION II - Content of recovery plans (Article 3-15)Article 3 - Information to be included in a recovery plan GL Article 4 - Summary of the key elements of the recovery plan GL Article 5 - Governance Q&AGL Article 6 - Strategic analysis GL Article 7 - The description of entities covered by the recovery plan Q&AGL Article 8 - Recovery options GL Article 9 - Actions, arrangements and measures under recovery options GL Article 10 - Impact assessment GL Article 11 - Feasibility assessment GL Article 12 - Continuity of operations GL Article 13 - Cross references GL Article 14 - Communication and disclosure plan GL Article 15 - Preparatory measures GL

SECTION III - Assessment of recovery plans (Article 16-21)Article 16 - Completeness of recovery plans GL Article 17 - Quality of recovery plans GL Article 18 - Implementation of the arrangements proposed in the recovery plans GL Article 19 - Recovery options GL Article 20 - Specific requirements for group recovery plans GL Article 21 - Nature of the entity or entities being assessed GL

CHAPTER II - RESOLUTION PLANS (Article 22-32)

SECTION I - Content of resolution plans (Article 22)Article 22 - Categories of information to be included in resolution plans

SECTION II - Assessment of resolvability (Article 23-32)Article 23 - Stages of assessment Article 24 - Feasibility and credibility of liquidation under normal insolvency proceedings GL Article 25 - Identification of a resolution strategy GL Article 26 - Assessment of feasibility of a resolution strategy GL Article 27 - Assessment of feasibility: structure and operations GL Article 28 - Assessment of feasibility: financial resources GL Article 29 - Assessment of feasibility: information GL Article 30 - Assessment of feasibility: cross-border issues GL Article 31 - Assessment of feasibility: other potential impediments GL Article 32 - Assessment of credibility of a resolution strategy GL

CHAPTER III - INTRA GROUP FINANCIAL SUPPORT (Article 33-36)Article 33 - Prospect to redress financial difficulties Article 34 - Terms of the support Article 35 - Liquidity and solvency of the providing entity Article 36 - Resolvability of the providing entity

CHAPTER IV - INDEPENDENCE OF VALUERS (Article 37-41)Article 37 - Definitions Article 38 - Elements of independence Article 39 - Qualifications, experience, ability, knowledge and resources Article 40 - Structural separation Article 41 - Material common or conflicting interests

CHAPTER V - RESOLUTION (Article 42-49)

SECTION I - Contractual recognition and conversion powers (Article 42-44)Article 42 - Definitions Article 43 - Liabilities to which the exclusion from the obligation to include the contractual term referred to in Article 55(1) of Directive 2014/59/EU applies Article 44 - Contents of the contractual term required by Article 55(1) of Directive 2014/59/EU

SECTION II - Notifications and notice of suspension (Article 45-49)Article 45 - General requirements for notifications Article 46 - Notification by the management body to a competent authority Article 47 - Communication of the competent authority to the resolution authority of the received notification Article 48 - Notification of assessment that an institution meets the conditions for resolution set out in points (a) and (b) of Article 32(1) of Directive 2014/59/EU Article 49 - Notice

CHAPTER VI - RESOLUTION COLLEGES (Article 50-109)

SECTION I - Operational organisation of resolution colleges (Article 50-60)Article 50 - Mapping and identification of resolution college members and possible observers Article 51 - Third country resolution authorities as observers in the resolution college Article 52 - Communication with the Union parent undertaking Article 53 - Establishment and update of contact lists Article 54 - Elements of written arrangements and procedures for the functioning of the resolution college Article 55 - Establishment and update of written arrangements and procedures for the functioning of the resolution college Article 56 - Operational aspects of college meetings and other activities Article 57 - Exchange of information Article 58 - Communication policy Article 59 - Coordination of external communication Article 60 - Emergency situations

SECTION II - Group resolution planning joint decisions (Article 61-85)

Subsection 1 - Joint decision process on group resolution plan and resolvability assessment (Article 61-72)Article 61 - Planning of the steps of the joint decision process Article 62 - Elements of the joint decision timetable Article 63 - Preliminary dialogue on the resolution strategy Article 64 - Information from the Union parent undertaking Article 65 - Transmission of information from the group-level resolution authority Article 66 - Development and circulation of the draft group resolution plan and resolvability assessment Article 67 - Consultation with resolution college members Article 68 - Discussion with the Union parent undertaking Article 69 - Dialogue on the draft resolution plan and resolvability assessment Article 70 - Drafting the joint decision on group resolution plan and resolvability assessment Article 71 - Reaching joint decision on the group resolution plan and resolvability assessment Article 72 - Communication of the joint decision and summary of the group resolution plan to the Union parent undertaking

Subsection 2 - Process in the absence of joint decision on group resolution plan and resolvability assessment (Article 73-75)Article 73 - Partial disagreement Article 74 - Elements of communication of individual decisions Article 75 - Communication of individual decisions in the absence of a joint decision

Subsection 3 - Joint decision on measures to address substantive impediments to resolvability (Article 76-83)Article 76 - Suspension of the joint decision process on the group resolution plan and resolvability assessment Article 77 - Planning of the steps of the joint decision process on measures to address substantive impediments to resolvability Article 78 - Consultation and communication of the report Article 79 - Submission of observations of the Union parent undertaking and consultation with the authorities Article 80 - Drafting the joint decision on measures to address substantive impediments to resolvability Article 81 - Reaching the joint decision Article 82 - Communication of the joint decision Article 83 - Monitoring the application of the joint decision

Subsection 4 - Process in the absence of joint decision on measures to address substantive impediments to resolvability (Article 84-85)Article 84 - Elements of communication of individual decisions Article 85 - Communication of individual decisions in the absence of joint decision

SECTION III - Joint decision process on minimum requirements for own funds and eligible liabilities (Article 86-96)

Subsection 1 - Joint decision process (Article 86-93)Article 86 - Planning of the joint decision on minimum requirements for own funds and eligible liabilities Q&A Article 87 - Proposal at consolidated and Union parent undertaking level Article 88 - Proposal at subsidiary level Article 89 - Dialogue on the proposed minimum requirements for own funds and eligible liabilities Article 90 - Drafting the joint decision on minimum requirements for own funds and eligible liabilities Article 91 - Reaching the joint decision on minimum requirements for own funds and eligible liabilities Article 92 - Communication of the joint decision on minimum requirements for own funds and eligible liabilities Article 93 - Monitoring the application of the joint decision on minimum requirements for own funds and eligible liabilities

Subsection 2 - Process in the absence of a joint decision at consolidated level (Article 94-96)Article 94 - Joint decisions taken at each subsidiary level in the absence of a joint decision at consolidated level Article 95 - Elements of communication of individual decisions Article 96 - Communication of individual decisions in the absence of joint decision

SECTION IV - Cross-border group resolution (Article 97-109)

Subsection 1 - Decision on the need for a group resolution scheme under Articles 91 and 92 of Directive 2014/59/EU (Article 97-101)Article 97 - Process for deciding on the need for a group resolution scheme Article 98 - Dialogue on the need for a group resolution scheme Article 99 - Preparation and communication of the draft assessment or draft decision on the need for a group resolution scheme Article 100 - Consultation on the draft assessment or decision on the need for a group resolution scheme Article 101 - Finalisation of the assessment or the decision on the need for a group resolution scheme

Subsection 2 - Joint decision process on the group resolution scheme (Article 102-107)Article 102 - Process of the joint decision on the group resolution scheme Article 103 - Preparation and communication of the draft group resolution scheme Article 104 - Consultation on the group resolution scheme Article 105 - Preparation and communication of the joint decision on the group resolution scheme Article 106 - Finalising the joint decision on the group resolution scheme Article 107 - Communication of the joint decision to the college

Subsection 3 - Disagreements and decisions taken in the absence of a joint decision (Article 108-109)Article 108 - Notification in case of disagreement Article 109 - Decision-making process between non-disagreeing resolution authorities

CHAPTER VII - FINAL PROVISIONS (Article 110)Article 110 - Entry into force

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