Mutual agreement to waive the requirement to establish a European resolution college

In accordance with Article 89(4) of Directive 2014/59/EU (BRRD) it is possible to waive the requirement to establish a European resolution college in cases where a   another resolution   group or college under Article 88 has been established, and only if such a resolution college   already exists and performs the same functions and tasks specified in Article 89 and complies with all the conditions and procedures established in Articles 89 and 90, which includes those covering membership and participation in European resolution colleges. National transposition should provide for the option to waive the requirement to establish a European resolution college. Such an option should be exercised on a case by case basis and only if there is mutual agreement of all the relevant parties. Following Article 89(1) BRRD, the wording “ mutual agreement between all the relevant parties ” included   which is in Article 89(4) BRRD refers to the mutual agreement between the resolution authorities of Member States where Union subsidiaries are established or where Union significant branches are located. Disclaimer: The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.