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Q&As refer to the provisions in force on the day of their publication. The EBA does not systematically review published Q&As following the amendment of legislative acts. Users of the Q&A tool should therefore check the date of publication of the Q&A and whether the provisions referred to in the answer remain the same.

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Could you please clarify the interaction between Recital 39 and the last sentence of Article 29 (2) of Directive 2014/59/EU (BRRD)?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Provision of IGFS under Article 23

Would a prohibition on the institution or the holding company receiving financial support under an IGFS agreement that does not meet the conditions in Article 23 of Directive 2014/59/EU (BRRD) be a satisfactory implementation of that Article?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Authorisation to breach large exposures requirements in the context of IGFS

How do national legislators transpose Article 23 (1) (h) of Directive 2014/59/EU (BRRD) in accordance with the CRR and the CRD IV?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Institution or entity in Article 19 (3) (a)

Can you please clarify if the provision Article 19 (3) (a) refers to the institution or to the entity?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Intra-Group Financial Support to subsidiaries in third countries

In case participation in Intra-Group Financial Support agreements by ”subsidiaries in third countries” is already allowed in national law, does Article 19 (1) of Directive 2014/59/EU (BRRD) still have be explicitly implemented?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Contents of group resolution plans

Are the contents of group resolution plans listed in Article 12 (3) of Directive 2014/59/EU (BRRD) to be considered in addition to the contents of solo resolution plans set out in Article 10 (7) of the same Directive?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Usage of Multiple Point of Entry (MPE) and Single Point of Entry (SPE) in resolution plans (scenarios)

Should the suggested resolution plans assume both the possibility of usage of Multiple Point of Entry (MPE) and Single Point of Entry (SPE) strategies depending on different scenarios and causes of failure or should they clearly identify a preferred strategy and elaborate only on the different resolution tools within this strategy?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Delegated Regulation (EU) 2016/1075 - DR on the content of recovery and resolution plans, financial support, independent valuers, contractual recognition of write down and conversion powers, notices of suspension and resolution colleges

Group recovery plans with regard to non-EU subsidiaries

Does the requirement to draw up a group recovery plan as established in Article 7 (1) of Directive 2014/59/EU (BRRD) also cover non-EU subsidiaries?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Joint control (by more than one Union parent undertaking) over a subsidiary

Into which group recovery plan a subsidiary which is jointly controlled by more than one Union parent undertaking should be included?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Interpretation of “group headed by the Union parent undertaking” in Article 7 (1)

Should “group headed by the Union parent undertaking” in Article 7 (1) of Directive 2014/59/EU (BRRD) be interpreted as the group subject to consolidated supervision pursuant to Articles 111 and 112 of Directive 2013/36/EU (CRD IV) headed by the Union parent undertaking?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Assessment of group recovery plans

Should group recovery plans be assessed in the same way as recovery plans in Article 6 of Directive 2014/59/EU (BRRD)? Is the reference to Article 7 (1) contained in Article 6 (1) correct?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Meaning of “where relevant” in Article 4

Could you please clarify the meaning of the wording “where relevant” in Articles 4 (3) (4) and (8) of Directive 2014/59/EU (BRRD)?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Designation of several authorities as resolution authority

Is it possible according to Article 3 (10) of Directive 2014/59/EU (BRRD) to make specified resolution authorities responsible for the resolution of particular groups or entities and/or to divide the responsibilities for certain stages of resolution amongst them?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Cooperation, collaboration and assistance of the competent authority to the resolution authority

How should those provisions of Directive 2014/59/EU (BRRD) (e.g Articles 6 (4); 10; 14; 17; 27 (2); and 32(1)) which entail that competent authorities need to cooperate, collaborate and assist with the resolution authority be reflected in national legislation in situations where both functions are carried out by the same entity?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

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?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Third country resolution proceedings

How do “Third country resolution proceedings” as defined in Article 2 (1) (88) affect a failing EU institution when these are applied to a failing third country parent?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Definition of branches of institutions that are established outside the Union

How should “branches of institutions that are established outside the Union […]” in Article 1 (1) (e) be interpreted?

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable

Clarification to Recital 41

Do you agree that the word “not” is missing in Recital 41 and should be corrected? (“Resolution should be initiated when a competent authority, after consulting a resolution authority, determines that an institution is failing or likely to fail and alternative measures as specified in this Directive would not prevent such failure within a reasonable timeframe.”)

  • Legal act: Directive 2014/59/EU (BRRD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable