Consultation

Consultation to amend the ITS on procedures, forms and templates for resolution planning (EBA-CP-2017-15)

Start date: 11/10/2017 | Deadline: 11/12/2017 | Status: Open | Permanent link

The European Banking Authority (EBA) launched today a consultation to amend the Implementing Technical Standards (ITS) on the information which institutions must provide to resolution authorities for the purpose of drawing up and implementing resolution plans. This review aims to update the framework taking into account the latest experience available in the areas of resolution planning and supervisory reporting. The consultation runs until 11 December 2017.
 
Since the delivery of the ITS on the forms and templates required for the preparation of resolution plans in 2015, there has been significant evolution in the policy and practices applied by authorities in the development of plans for financial institutions. With the aim of delivering efficient and harmonised practices, the EBA, in conjunction with European resolution authorities, has initiated a review of this reporting process.
 
The consultation launched today seeks to obtain the views of stakeholders on the proposed amendments.  While the core objectives remain the same, the proposed revisions envisage content changes to  many of the original templates, the deletion of some others - primarily where the necessary information is available through supervisory reporting channels- and the addition of one new template to collect information about relevant deposit guarantee scheme arrangements.
In addition to the content changes,, the proposal also (a) clarifies the scope of the reporting framework in line with the Bank Recovery and Resolution Directive (BRRD), (b) specifies minimum procedural and technical reporting requirements and (c) allows for the application of simplified reporting obligations for small institutions
The new framework is expected to be operational in 2019 when resolution authorities will collect information as of 31 December 2018.

Consultation process

Comments to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 11 December 2017.
A public hearing will take place at the EBA premises on 9 November 2017 from 10:00 to 12:30 UK time. All contributions received will be published following the close of the consultation, unless requested otherwise.

Legal basis and background 

These draft ITS have been developed according to Article 11(3) which entrusts the EBA with the task of developing draft ITS to specify procedures and a minimum set of standard forms and templates for the provision of information necessary to draw up and implement resolution plans. This is in own-initiative review. It is conducted in line with the EBA’s task, set out in Article 29(1)(d) of its founding Regulation, to review the application of the relevant technical standards and propose amendments where appropriate.