Article 83

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Bank Recovery and Resolution Directive (BRRD) > TITLE IV > CHAPTER VIII > Article 83
Title:
Article 83
Description: 
Procedural obligations of resolution authorities
Main content: 
1. Member States shall ensure that, as soon as reasonably practicable after taking a resolution action, resolution authorities comply with the requirements laid down in paragraphs 2, 3 and 4.
 
2. The resolution authority shall notify the institution under resolution and the following authorities, if different:
 
(a) the competent authority for the institution under resolution;
 
(b) the competent authority of any branch of the institution under resolution;
 
(c) the central bank;
 
(d) the deposit guarantee scheme to which the credit institution under resolution is affiliated;
 
(e) the body in charge of the resolution financing arrangements;
 
(f) where applicable, the group-level resolution authority;
 
(g) the competent ministry;
 
(h) where the institution under resolution is subject to supervision on a consolidated basis under Chapter 3 of Title VII of Directive 2013/36/EU, the consolidating supervisor;
 
(i) the designated national macroprudential authority and the ESRB;
 
(j) the Commission, the European Central Bank, ESMA, the European Supervisory Authority (European Investment and Occupational Pensions Authority) (‘EIOPA’) established by Regulation (EU) No 1094/2010 and EBA;
 
(k) where the institution under resolution is an institution as defined in Article 2(b) of Directive 98/26/EC, the operators of the systems in which it participates.
 
4. The resolution authority shall publish or ensure the publication of a copy of the order or instrument by which the resolution action is taken, or a notice summarising the effects of the resolution action, and in particular the effects on retail customers and, if applicable, the terms and period of suspension or restriction referred to in Articles 69, 70 and 71, by the following means:
 
(a) on its official website;
 
(b) on the website of the competent authority, if different from the resolution authority, and on the website of EBA;
 
(c) on the website of the institution under resolution;
 
(d) where the shares, other instruments of ownership or debt instruments of the institution under resolution are admitted to trading on a regulated market, the means used for the disclosure of regulated information concerning the institution under resolution in accordance with Article 21(1) of Directive 2004/109/EC of the European Parliament and of the Council (1).
 
5. If the shares, instruments of ownership or debt instruments are not admitted to trading on a regulated market, the resolution authority shall ensure that the documents providing proof of the instruments referred to in paragraph 4 are sent to the shareholders and creditors of the institution under resolution that are known through the registers or databases of the institution under resolution which are available to the resolution authority.

 

 

(1) Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC (OJ L 390, 31.12.2004, p. 38).

Subject areas: