Regulatory Technical Standards on the contractual recognition of stay powers under BRRD

  • Status: Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

These draft Regulatory Technical Standards (RTS) for contractual recognition of stay powers under the Bank Recovery and Resolution Directive (BRRD) support the effective application of temporary restrictions on early termination rights (resolution stays) in relation to financial contracts governed by the law of a third country. In particular, they specify the contents of the contractual term required to be included in relevant financial contracts where no alternative mechanism (i.e. statutory) exists to secure the recognition by the counterparty of the resolution authority’s powers to suspend or restrict rights and obligations.

Summary of document history

Previous versions Current version Ongoing versions

Consultation Paper on Draft Regulatory Technical Standards on the contractual recognition of stay powers under Article 71a(5) of Directive 2014/59/EU

  • Status: Closed
  • Deadline: 15 AUGUST 2020
Documents
Consultation paper

(986.63 KB - PDF) Last update 15 May 2020

Responses

The form is now closed.

Public hearings

Public Hearing on Draft RTS on contractual recognition of stay powers (art 71a BRRD)

Press contacts

Franca Rosa Congiu