Powers of resolution authorities Article 63 and Article 38(1)(a)

Article 63 of Directive 2014/59/EU (BRRD) provides a general and wide obligation for Member States to have all the powers necessary to apply the resolution tools to institutions. Article 63 is the framework article in this respect. The list of powers in Article 63 is therefore not meant to be exhaustive. Within that logic the general powers the Directive has pursuant to Article 63 may be specified in the context of a certain resolution tool. Article 38(1)(a) in this sense, specifies Article 63(1)(c) by providing a specific power that applies in the context of the sale of business tool. 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.