Article 65

Path:
Bank Recovery and Resolution Directive (BRRD) > TITLE IV > CHAPTER VI > Article 65
Title:
Article 65
Description: 
Power to require the provision of services and facilities
Main content: 
1. Member States shall ensure that resolution authorities have the power to require an institution under resolution, or any of its group entities, to provide any services or facilities that are necessary to enable a recipient to operate effectively the business transferred to it.
 
The first subparagraph shall apply including where the institution under resolution or relevant group entity has entered into normal insolvency proceedings.
 
2. Member States shall ensure that their resolution authorities have powers to enforce obligations imposed, pursuant to paragraph 1, on group entities established in their territory by resolution authorities in other Member States.
 
3. The services and facilities referred to in paragraphs 1 and 2 are restricted to operational services and facilities and do not include any form of financial support.
 
4. The services and facilities provided in accordance with paragraphs 1 and 2 shall be on the following terms:
 
(a) where the services and facilities were provided under an agreement to the institution under resolution immediately before the resolution action was taken and for the duration of that agreement, on the same terms;
 
(b) where there is no agreement or where the agreement has expired, on reasonable terms.