EBA · 2015_2081 Rejected question

Individual recovery plans for institutions directly supervised by the European Central Bank

Regulation
Directive 2014/59/EU (BRRD)
Article
4, para. 10
Topic
Simplified obligations
Submitted by
Competent authority
Submitted
2015-06-30
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Question

Do Article 4 (10) and Article 7 of Directive 2014/59/EU (BRRD) have to be applied to institutions / groups directly supervised by the ECB?

Background

Despite the Article 4 (10) of Directive 2014/59/EU (BRRD) which provides that each institution directly supervised by the ECB shall draw up an individual recovery plan, is it the case that Article 7 of Directive 2014/59/EU (BRRD) shall be applied to groups and all their subsidiaries or affiliated institutions of a central body which are supervised by ECB? In addition, is it the case that Article 4 (10) does not provide an obligation for each institution directly supervised by the ECB to draw up an individual recovery plan in addition to the group recovery plan?
No answer published yet.

Original source: European Banking Authority, Q&A ID 2015_2081

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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