EBA · 2015_2098 Final Q&A

Contents of group resolution plans

Regulation
Directive 2014/59/EU (BRRD)
Article
12, para. 3
Topic
Resolution plans
Submitted by
Competent authority
Submitted
2015-07-06
Answered
2015-07-24
Answer provided by
ESAs (EBA, ESMA, EIOPA)

Question

Are the contents of group resolution plans listed in Article 12 (3) of Directive 2014/59/EU (BRRD) to be considered in addition to the contents of solo resolution plans set out in Article 10 (7) of the same Directive?

Background

Can you please clarify whether the contents of group resolution plans listed in Article 12 (3) of Directive 2014/59/EU (BRRD) are in addition to the contents of solo resolution plans set out in Article 10 (7) of Directive 2014/59/EU (BRRD) (i.e. group plans must also contain the same contents as solo plans)?

Answer

Article 12 (3) of Directive 2014/59/EU (BRRD) includes the information from the group perspective and Article 10(7) the information from the individual institution. The answer to this question  can be found in Article 22 of DR 2016/1075, on the content of resolution plans is discussed within context of the EBA final draft Regulatory Technical Standards (RTS) on resolution planning ( EBA/RTS/2014/15 ) and hence dependent on the final adoption of the RTS by the European Commission .  Furthermore, the group plan will include measures to be taken at individual level. 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.

Original source: European Banking Authority, Q&A ID 2015_2098

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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