Resolution powers in relation to third country branches

Article 1 of Directive 2014/59/EU (BRRD) defines the scope of the BRRD as including "branches of institutions that are established outside the Union in accordance with the specific conditions laid down in this Directive" (Union branches).                                                                          The requirement as to the actions that authorities should be able to take as regards these branches is defined in a broad manner in the BRRD. More concretely, Articles 94(4)(a) (i) and (ii) of the BRRD request that Member States equip their authorities with powers to enforce third country resolution proceedings by being able to exercise resolution tools over, respectively, "assets of third country institution or parent undertaking  that are located in their Member State or governed by the law of their Member State" and "rights or liabilities of a third-country institution that are booked by the Union branch in their Member State or governed by the law of their Member State, or where claims in relation to such rights and liabilities are enforceable in their Member State". For Union branches that are not subject to third-country resolution proceedings or where the third-country resolution proceeding cannot be recognised, Article 96(3) applies, recalling principles and requirements that the authority should have regard to when taking action in so far as they are relevant. 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.