On September 25, 2014, the EBA published two consultation papers on draft guidelines and draft implementing technical standards ("ITS") relating to eligibility of firms for simplified obligations under the BRRD. The proposed guidelines expand upon the criteria in the BRRD for eligibility for simplified obligations, creating a list of mandatory and optional indicators for national regulators to use in their assessments of firms. The proposed guidelines also include clarification that any firm considered to be globally systemically important would not be suitable for the application of the simplified obligations. The proposed draft ITS establish templates and definitions for national regulators to use when transmitting information to the EBA about their assessments of firms against the eligibility criteria. Both consultations close on January 3, 2015.
The consultation papers are available at: http://www.eba.europa.eu/-/eba-consults-onthe-eligibility-of-institutions-for-simplified-obligations-for-recovery-and-resolutionplanning .
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