Consultation on draft Guidelines on minimum list of services and facilities

The EBA launched today a consultation on draft Guidelines on Minimum List of Services and Facilities, related to the Bank Recovery and Resolution Directive (BRRD). The document aims at facilitating the implementation of resolution tools in the EU banking sector, and in particular the transfer of an institution or its assets under any of the resolution tools. The consultation runs until 22 December 2014.

 

These Guidelines aim at fostering convergent practices among Member States’ resolution authorities by giving comprehensive guidance on which circumstances resolution authorities should assess when taking their decisions.

 

The Guidelines on necessary services define a minimum list of necessary ‘critical’ services that the resolution authority may require from the institution under resolution (i.e. the purchaser after a sale of business, a bridge bank or the transferee after a transfer of assets). These Guidelines take into account the Financial Stability Board (FSB) guidance on critical shared services and as such, they reflect the recent international discussion and commitments of the G20 members for efficient resolutions.

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 22 December 2014.

 

All contributions received will be published following the close of the consultation, unless requested otherwise. A public hearing will then take place at the EBA premises on 28 November 2014 from 9.30 am to 12.00 noon UK time.

The proposed Guidelines are based on Article 65 of the BRRD, which mandates the EBA to promote convergence of supervisory and resolution practices on the power to require the provision of services following a transfer under resolution.