Transfer of assets / Consideration paid by the purchaser

Article 38(4)(b) of Directive 2014/59/EU also covers the sale of assets or liabilities of an entity mentioned in point (b), (c) or (d) of Article 1(1). The term "institution under resolution" is defined in Article 2(1)(83) and includes institutions as well as all of the aforementioned entities. Then, with regard to the original question, the consideration paid by the purchaser could also benefit the holding. The same is also applicable for Article 40(4)(b) (bridge institution tool) and 42(7) (asset separation tool). Disclaimer: This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.