Article 125

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Bank Recovery and Resolution Directive (BRRD) > TITLE X > Article 125
Title:
Article 125
Description: 
Amendment to Regulation (EU) No 1093/2010
Main content: 
Regulation (EU) No 1093/2010 is amended as follows:
 
(1) In Article 4, point (2) is replaced by the following:
 
 
‘(2) ‘competent authority’ means:
 
(i) competent authority as defined in Article 4(1)(40) of Regulation (EU) No 575/2013, and within the meaning of Directives 2007/64/EC and 2009/110/EC;
 
(ii) with regard to Directives 2002/65/EC and 2005/60/EC, the authorities competent for ensuring compliance with the requirements of those Directives by credit and financial institutions;
 
(iii) with regard to Directive 2014/49/EU of the European Parliament and of the Council (*), a designated authority as defined in Article 2(1)(18) of that Directive;
 
(iv) with regard to Directive 2014/59/EU of the European Parliament and of the Council (**), a resolution authority as defined in Article 2(1)(18) of that Directive.
 

 

 

(*) Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on Deposit Guarantee Schemes (OJ L 173, 12.6.2014, p. 149).

(**) Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).’;

 
(2) In Article 40(6), the following subparagraph is added:
 
‘For the purpose of acting within the scope of Directive 2014/59/EU, the member of the Board of Supervisors referred to in point (b) of paragraph 1 may, where appropriate, be accompanied by a representative from the resolution authority in each Member State, who shall be non-voting.’.