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The EBA has begun consulting on Level 2 (technical standards)
and Level 3 (guidelines) measures under the BRRD. The BRRD, which
establishes the framework for the recovery and resolution of banks
and investment firms, will apply from 1 January 2015, except for
the bail-in provisions which must apply from 1 January 2016 at the
latest. The EBA has published consultation papers on: (i) RTS on
the content of resolution plans and the assessment of
resolvability; (ii) RTS on the criteria to be applied in assessing
whether a valuer is independent when undertaking valuation work for
bank resolution; (iii) guidelines on measures to reduce or remove
impediments to resolvability and the circumstances under which
measures can be applied; and (iv) the types of tests, reviews or
exercises that may lead to public support measures under the BRRD.
Responses to the consultations are due in early October 2014.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
