The European Banking Authority (EBA) launched today a public consultation on draft Implementing Technical Standards (ITS) on procedures, forms and templates for resolution planning. These ITS have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) which sets procedures for the recovery and resolution of credit institutions, investment firms and related entities across the EU. This consultation runs until 14 April 2015.
The BRRD requires resolution authorities to draw up resolution plans that outline the actions to be taken in case an institution meets the conditions for resolution. The proposed draft ITS develop in detail the procedure that should be followed when resolution authorities require information about an institution for the purpose of drawing up a resolution plan.
According to this procedure, resolution authorities shall first contact the competent authorities to request the relevant information about an institution. If the information is not available, or if the format is not satisfactory, resolution authorities may then directly contact the concerned institution and ask them to use the forms and templates included in the Annexes of the ITS proposed by the EBA.
The minimum set of forms and templates provided in theses Annexes cover information on institutions' organisational structure, governance and management, critical functions and core business lines, critical counterparties, structure of liabilities, funding sources, off-balance sheet, payment systems, information systems, interconnectedness, authorities and legal framework. Examples are included in the annexes submitted to this public consultation in order to allow better understanding of the information expected.
Comments to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 14 April 2015.
A public hearing will take place at the EBA premises on 27 February 2015 from 10:00 to 13:00 UK time. All contributions received will be published following the close of the consultation, unless requested otherwise.
The draft RTS have been prepared according to Article 11(3) of the BRRD, which mandates the EBA to draft implementing technical standards to specify procedures and a minimum set of standards form and templates for the provision of information for the purpose of resolution plans.