- Question ID
- Legal act
- Directive 2014/59/EU (BRRD)
- Other topics
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Not applicable
- Type of submitter
- Subject matter
Entity that formally is not a part of public administration as resolution authority
Is it possible under Directive 2014/59/EU (BRRD), in particular under Article 3 to designate as a resolution authority, an entity that is entitled to issue administrative decisions but formally is not a part of public administration?
- Background on the question
Are bodies that can be designated as resolution authorities be restricted only to bodies that are public administrations?
- Submission date
- Final publishing date
- Final answer
Yes, Article 3 (2) of Directive 2014/59/EU (BRRD) specifies that the resolution authority shall be a public administrative authority or authorities entrusted with public administrative powers.
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.
- 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.