The EBA has published three sets of final guidelines aimed at facilitating the implementation of resolution tools in the banking sector across the EU. The guidelines have been developed under Articles 39, 42 and 65 of the EU Bank Recovery and Resolution Directive, which mandates the EBA to promote the convergence of supervisory and resolution practices on the effectiveness of the sale of business tool, on the conditions for applying the asset separation tool and on the power to require the provision of services following a transfer under resolution. The guidelines are addressed to Competent Authorities, and provide detailed guidance on the circumstances they should assess when taking their resolution decisions. The guidelines will apply from August 1, 2015.
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.