Response to eBA consults on technical standards on impracticability of contractual recognition of bail-in

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Q1. Are there any third country authorities, other than resolution authorities, that might impose instructions not to include the contractual bail-in recognition term?

Please refer to the attached document.

Q2. Can you provide concrete examples of instruments, such as letters of guarantee, governed by the law of a third country which are not used in the context of trade finance and which would be subject to conditions of impracticability?

Please refer to the attached document.

Q3. Do you agree that the categories of liabilities in the above table do not meet the definition of impracticability for the purpose of Article 55(6)a)?

Please refer to the attached document.

Q4. Do you consider that there is any condition of impracticability that has not been captured in the analysis?

Please refer to the attached document.

Q5. Do you agree with EBA’s approach for developing the draft ITS?

Please refer to the attached document.

Q6. Do you consider reasonable 3 months for entry into force of the ITS, as allowing enough time to set-up the proper and adequate capabilities to notify with this ITS?

Please refer to the attached document.

Q7. Do you agree with EBA’s proposed conditions of impracticability?

Please refer to the attached document.

Q8. Can you provide examples of instruments or contracts for which it would be impracticable to include the contractual recognition which are not captured by the above proposed conditions?

Please refer to the attached document.

Q9. Are the proposed conditions of impracticability clear and meeting their purpose?

Please refer to the attached document.

Q10. Is the article providing the conditions for the Resolution Authority to require inclusion clear?

Please refer to the attached document.

Q11. Do you agree with EBA’s proposal for the conditions for the resolution authority to require the inclusion of the contractual term?

Please refer to the attached document.

Q12. What is the likely amount of the liabilities to be notified under article 55 BRRD, as average per liability and as expected maximum per liability? What is the expected average maturity of the liabilities to be notified under article 55 BRRD?

Please refer to the attached document.

Q13. Do you agree with EBA’s proposal for the reasonable timeframe for the resolution authority to require the inclusion of the contractual term?

Please refer to the attached document.

Q14. How much time do you need to implement the technical specifications provided in this draft ITS?

Please refer to the attached document.

Q15. Do you consider the draft ITS comprehensive for submitting a notification of impracticability?

Please refer to the attached document.

Q16. Do you consider the templates and instructions clear?

Please refer to the attached document.

Q17. Do you have any suggestions or proposals in relation to the draft ITS template and the instructions to fill it in?

Please refer to the attached document.

Q18. Do you find any specific piece of information required in the template as hard to provide or unclear how to fill in?

Please refer to the attached document.

Q19. Do you agree with the draft Impact Assessment? Can you provide any numerical data to further inform the Impact Assessment?

Please refer to the attached document.

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Name of the organization

European Association of Co-operative Banks (EACB)