Press Release: EBA publishes Guidelines on recovery and resolution

The European Banking Authority (EBA) published on the 22 September 2014 its final Guidelines specifying the type of tests, review or exercises that may lead to extraordinary public support measures for institutions in the banking sector. These Guidelines aim at promoting a consistent and coherent approach to bank resolution across the European Union and will be part of the EU Single Rulebook in the banking sector.

Also on the 22 September 20014, the European Banking Authority (EBA) launched a consultation on two draft Guidelines on (i) the triggers for using early intervention measures (triggers for early intervention) and on (ii) the circumstances under which an institution shall be considered as ‘failing or likely to fail' (triggers for resolution). Both Guidelines ensure continuum between the on-going supervision conducted by national authorities in line with the CRD, and the Bank Recovery and Resolution Directive (BRRD). They aim at promoting convergence of supervisory and resolution practices in relation to how resolution should be triggered and how to apply early intervention measures. The consultations run until 22 December 2014.

ESO: Background information: EBA launches interactive Single Rulebook http://www.europeansources.info/record/press-release-eba-launches-interactive-single-rulebook/

ESO: Background information: Council adopts rules on bank recovery and resolution http://www.europeansources.info/record/press-release-council-adopts-rules-on-bank-recovery-and-resolution/

ESO: Key Source: European Banking Union http://www.europeansources.info/record/european-banking-union-2/

EBA: Press Release, 22.09.14: EBA consults on triggers for early intervention and resolution http://www.eba.europa.eu/-/eba-consults-on-triggers-for-early-intervention-and-resolution

---