Consultation on draft guidelines on the specification of measures to reduce or remove impediments to resolvability (
EBA/CP/2014/15
)

Start Date: 09/07/2014 | Deadline: 09/10/2014 | Status: CLOSED |

The EBA launched today a consultation on draft Guidelines on measures to reduce or remove impediments to resolvability. The Guidelines are part of the EBA’s work to promote a consistent and coherent approach to bank resolution across the European Union. The consultation runs until 9 October 2014.

The proposed draft Guidelines complement the EBA technical standards on resolution planning and resolvability assessment by setting out the circumstances under which resolution authorities can impose measures to overcome obstacles to resolvability identified by the assessment.

More specifically, in case resolution authorities in their resolvability assessment, identify substantive impediments to liquidation in normal insolvency proceedings or to the feasible and credible implementation of resolution powers, the BRRD calls for a removal of such impediments. The proposed Guidelines provide additional details to the list of measures that resolution authorities can take to reduce or remove these impediments as well as to the circumstances under which each of the measures may be applied.

The guidelines do not prescribe or privilege certain business models or organizational structures but allow for a case-by-case analysis of the impediments caused by the institution or group and of the best way to address them.

Consultation process

Comments to these consultations 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 9 October 2014.

All contributions received will be published following the close of the consultation, unless requested otherwise. A public hearing will take place at the EBA premises on 18 September 2014 from 9:30 to 12:30 UK time.

Legal basis and next steps

The proposed Guidelines complete the set of EBA regulatory deliverables on resolution planning and resolvability assessment and are based on Article 17 of the BRRD, which sets out procedural and substantial rules for the reduction or removal of impediments to resolvability.