On-site inspections by resolution authorities

Article 63(1)(a) of Directive 2014/59/EU (BRRD) provides resolution authorities with the power to require the provision of relevant information. Such information may be gathered by means of on-site inspections. The text is clear on the power of the resolution authority. But it is not specific on the exact means by which this power can be exercised. This is in line with the approach outlined in Recital 85. The inspection can therefore in principle be carried out directly by the resolution authority. The resolution authority may also request the competent authority to carry it out on its behalf. The exact means are to be defined by the Member States when transposing the Directive into national law. 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.