|
|
Asset transfer in case of sale of business tool
What is the proper basis of transferring assets in case of sale of business tools as referred to in Article 38(1) of Directive 2014/59/EU (BRRD), is it the resolution authority decision or agreement?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1778 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Liabilities guaranteed by third parties subject to bail-in
The provisions regarding exclusion of "secured liabilities“ from bail-in contained in in Articles 2(2)(67) and 44(2)(b) of Directive 2014/59/EU (BRRD) seem to be ambiguous. We seek clarification as to whether liabilities guaranteed by third parties can be subject to bail-in?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1779 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Clarificaion of "value of an instrument" in Article 48(2)
We seek clarification regarding Article 48(2) of Directive 2014/59/EU (BRRD), the provision regarding write-down and conversion powers is unclear: the value of an instrument may fluctuate therefore the reference to “value” in Article 48(2) seems ambiguous. We wonder if value refers to the “face value” (“notional amount”) or to the “market value”?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1780 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Transfer of shareholders in the context of sale of business, Bridge Bank, Asset Separation
1. Is there any rationale for different terminology in Articles 43(2)(b)(i) and 43(2)(b)(ii) of Directive 2014/59/EU (BRRD)? What happens in a situation, when the bridge bank should be wholly owned by the Member State? Does it mean that bridge bank provisions must allow for partial State ownership, or does it mean that the power according to Article 43(2)(b)(i) should not be implemented? 2. What is the procedure for consecutive bail-in after the transfer tools is used?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1781 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Transfer of assets / Consideration paid by the purchaser
On the basis of Article 39(1) and 38(4)(b) of Directive 2014/59/EU (BRRD), where assets of the holding company are transferred, should the consideration paid by the purchaser benefit the holding, and not the institution under resolution?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1782 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Transfer of rights and liabilities in the context of the Asset Separation Tool
Can you clarify if there is a distinction between Article 42(1) and Article 42(3) of Directive 2014/59/EU (BRRD): does the assets separation tool allow Resolution Authorities to transfer rights and liabilities as well as assets?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1783 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Deposit Guarantee Scheme (DGS) contributions couning towards the 8% requirement
On what basis is the 8% in Article 44(5) of Directive 2014/59/EU (BRRD) to be applied? Do Deposit Guarantee Scheme (DGS) contributions count towards the 8% requirement?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1784 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Approval of business reorganisation plan
Does only the resolution authority have to be satisfied of the business reorganisation plan referred to in Article 52(7)(8) of Directive 2014/59/EU (BRRD) or is the support of the competent authority required also?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1785 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Resolution powers in relation to third country branches
Article 96 of Directive 2014/59/EU (BRRD) requires Member States to ensure resolution authorities have the powers necessary to act in relation to a third country branch. How can Member States comply with this requirement? What specific actions should the resolution authority be empowered to take in relation to a third country branch? How can a resolution authority take action against a branch given it is not a legal entity?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1786 |
Topic: Cross-border resolution |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Relation between the sale of business tool and take-over bid requirements
Does the reference to 'securities law' in Article 38(1) of Directive 2014/59/EU (BRRD) relate to take-over bid requirements? In general, what is the approach to the exemption to apply securities law requirements? For example, in case of bail-in in for the conversion into capital instruments an alternative in given, and therefore the investor has to decide between two instruments but the conversion is mandatory, could the obligation of prospectus be overridden? The same for a capital increase with pre-emption rights?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1787 |
Topic: Resolution tools and powers |
Date of submission: 02/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
On-balance sheet netting and exemption from the Large Exposures limits
Are on-balance sheet (OBS) netting agreements, where there are maturity mismatches between loans and deposits, eligible the exemption from the large exposures regime as laid down in Article 400 of Regulation (EU) No 575/2013 (CRR)?
Legal act: Regulation (EU) No 575/2013 (CRR)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2014_1508 |
Topic: Large exposures |
Date of submission: 01/10/2014 |
Date of publication: 06/02/2015
|
|
|
|
Simplified obligations regarding recovery and resolution plans for a subsidiary constituting a significant share in the financial system of a Member State
Is a competent authority in charge of the supervision of a subsidiary constituting a significant share in the financial system of their Member State (according to paragraph 10 of Article 4 Directive 2014/59/EU (BRRD), to submit that request during the process of the assessment of group recovery plans if they want that subsidiary (part of the EU group with parent institution in another Member State) to draw up and submit a recovery plan on an individual basis, required (according to Article 7. paragraph 2) in order for that fact to form part of the joint decision regarding the group recovery plan or is the competent authority allowed to require individual plans to be drawn up independently from joint decision process prescribed in Article 8 of the BRRD? Is a resolution authority in charge of a subsidiary constituting a significant share in the financial system of their Member State (according to Article 4(10) of the BRRD ), if they want to prepare individual resolution plan for that subsidiary (part of the EU group with parent institution in another Member State), allowed to define topics of the resolution plan such as resolution strategy, measures to remove impediments to that strategy and MREL for that particular subsidiary separately from the joint decision process defined in Articles 13, 16, 18 and 45h of the Directive 2014/59/EU (BRRD)?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1788 |
Topic: Simplified obligations |
Date of submission: 03/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Notification of stakeholders in the context of intra-group financial support
What is the scope of the obligations imposed by Articles 25(1) and 25(6) of Directive 2014/59/EU (BRRD)?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1789 |
Topic: Intra-group financial support |
Date of submission: 03/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
On-balance sheet netting and exemption from the Large Exposures limits - question 1
Are on-balance sheet (OBS) netting agreements, where both legs are denominated in different currencies, exempted from the application of Article 395(1) of Regulation (EU) No 575/2013 (CRR)??
Legal act: Regulation (EU) No 575/2013 (CRR)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2014_1505 |
Topic: Large exposures |
Date of submission: 01/10/2014 |
Date of publication: 06/02/2015
|
|
|
|
Differences between proportionality in the CRD IV and Simplified obligations in the BRRD.
In accordance with the Directive 2014/59/EU (BRRD), Article 74(4) of CRD IV will expire when BRRD is implemented. Is the proportionality in the CRD IV different from the simplified obligations in the BRRD?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1793 |
Topic: Interactions with the CRR / CRD IV and the BRRD |
Date of submission: 04/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Meaning of "initial" recovery plan
What does the reference to the ‘initial’ recovery plan’ in Article 27(1)(a) of Directive 2014/59/EU (BRRD) mean? Is it the first recovery plan or does it relate to subsequent recovery plans?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1794 |
Topic: Early intervention |
Date of submission: 04/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Use of the resolution fund
Are the purposes for which a resolution fund can be used exhaustive according to Article 101 of Directive 2014/59/EU (BRRD)?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1797 |
Topic: Resolution financing arrangements |
Date of submission: 04/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Intra-group financial support with regard to third countries
Why does Article 19 (1) of Directive No 2014/59/EU (BRRD) include third countries and how is the procedure of granting intra-group financial support supposed to work regarding third countries?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1799 |
Topic: Intra-group financial support |
Date of submission: 05/02/2015 |
Date of publication: 06/02/2015
|
|
|
|
Non transferred assets, rights and liabilities of shareholders or creditors
Articles 38(13), 40(11) and 42(12) of Directive 2014/59/EU (BRRD) state that shareholders or creditors whose assets, rights and liabilities are not transferred, shall have no rights over the assets, rights and liabilities that are transferred. What is meant by that and how would this affect a creditors right in rem against an institution?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1775 |
Topic: Resolution safeguards |
Date of submission: 30/01/2015 |
Date of publication: 30/01/2015
|
|
|
|
Use of an existing legal person as a bridge Institution
In cases where a legal person already exists can this be used for the purposes of Article 40 of Directive 2014/59/EU (BRRD)? Does, in particular, Article 40(2)(b) of the BRRD exclude using a) a legal person that already exists but is now bought for this purpose; b) using a legal person that is being held available for this purpose by the institution concerned?
Legal act: Directive 2014/59/EU (BRRD)
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
ID: 2015_1774 |
Topic: Resolution tools and powers |
Date of submission: 30/01/2015 |
Date of publication: 30/01/2015
|
|
