Resolution action with regard to a holding

The resolution authority should be able to take action with regard to a holding (even if the holding does not meet the conditions for resolution) when in accordance with Article 33 of Directive 2014/59/ EU (BRRD): (1) one or more of the subsidiaries which are institutions comply with the conditions for resolution set out in Article 32(1), (4) and (5) BRRD; and (2) (a) their assets and liabilities (those of the subsidiaries) are such that their failure threatens an institution or the group as a whole, or (2) (b) the insolvency law of the Member State requires that groups be treated as a whole; and (3) resolution action with regard to holding is necessary for the resolution of such subsidiaries which are institutions or for the resolution of the group as a whole. 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.