Both Article 63 and Article 38(1)(a) of Directive 2014/59/EU (BRRD) make reference to powers of resolution authorities. How do these powers complement one another?
Article 63 mentions some general powers of the resolution authorities. Some of those powers seem to be mentioned already in other articles. For instance Article 63(1)(c): the power to transfer instruments of ownership is not only mentioned here, but in Article 38(1)(a) as well. How do these provisions interact with one another?
Article 63 of Directive 2014/59/EU (BRRD) provides a general and wide obligation for Member States to have all the powers necessary to apply the resolution tools to institutions. Article 63 is the framework article in this respect. The list of powers in Article 63 is therefore not meant to be exhaustive.
Within that logic the general powers the Directive has pursuant to Article 63 may be specified in the context of a certain resolution tool. Article 38(1)(a) in this sense, specifies Article 63(1)(c) by providing a specific power that applies in the context of the sale of business tool.
This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.
Update 26.03.2021: This Q&A has been reviewed in the light of the changes introduced to Directive 2014/59/EU (BRRD) and continues to be relevant.