- Question ID
-
2015_1923
- Legal act
- Directive 2014/59/EU (BRRD)
- Topic
- Resolution financing arrangements
- Article
-
103
- Paragraph
-
2
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Delegated Regulation (EU) 2015/63 - DR on ex ante contributions to resolution financing arrangements
- Article/Paragraph
-
5(1)
- Type of submitter
-
Competent authority
- Subject matter
-
Exclusion of Intragroup Liabilities - General Rule
- Question
-
"Does the criterion of Article 5 (1) a) ii) of DA ""each institution is included in the same consolidated supervision according to Artices 6 to 17 of Regulation No 575/2013 (EU) on a full basis"" alows also intragroup liabilities between ""sister"" companies to be excluded while calculating individual ex ante contributions to resolution arrangements?"
- Background on the question
-
"In ordrer to avoid double counting of certain group liabilities when calculating ex ante contributions to resolution arrangements, DA stipulates several conditions that must be fulfilled to allow particular intra-group liabilites to be deducted from the calculation base. One is linked to the inclusion of the institutions in a group under same consolidated supervision."
- Submission date
- Final publishing date
-
- Final answer
-
Yes. Article 5 (1) of Commission Delegated Regulation (EU) 2015/63 does not restrict the application of the exclusion to liabilities that arise between a parent and its subsidiaries.
Disclaimer:
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.
- Status
-
Final Q&A
- Answer prepared by
-
Answer prepared by the European Commission because it is a matter of interpretation of Union law.
- Note to Q&A
-
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.