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The European Banking Authority (EBA) published today its final Guidelines specifying the type of tests, review or exercises that may lead to extraordinary public support measures for institutions in the banking sector. These Guidelines aim at promoting a consistent and coherent approach to bank resolution across the European Union and will be part of the EU Single Rulebook in the banking sector.

The European Banking Authority (EBA) published today two final draft Regulatory Technical Standards (RTS) specifying (i) the information to be included in a recovery plan, and (ii) the criteria which competent authorities should apply when assessing the recovery plan of an institution or a group. The final draft RTS are complemented by Guidelines providing the range of scenarios to be used when testing recovery plans. These standards and Guidelines aim to facilitate bank recovery on a cross-border basis and enhance financial stability by ensuring consistent high regulatory standards in this area and a level playing field across the EU. They will provide the common framework and language which are indispensable for effective joint assessment of recovery plans for cross-border groups and will form part of the European Single Rulebook in banking.

The European Banking Authority (EBA) launched today a consultation on draft Regulatory Technical Standards (RTS) setting out the general criteria against which a valuer should be assessed to determine whether (s)he complies with the legal requirement of independence when performing valuation tasks with respect to a bank under resolution. These RTS are part of the EBA's work to promote a consistent and coherent approach to bank resolution across the European Union and will contribute to the completion of the Single Rulebook in the EU banking sector. The consultation runs until 11 October 2014.

The EBA launched today a consultation on its draft Guidelines specifying the type of tests, review or exercises that may lead to extraordinary public support measures for institutions. These Guidelines are part of the EBA’s work to promote the consistent and coherent approach to bank resolution across the European Union. The consultation runs until 9 August 2014.

The EBA launched today two consultations on draft Regulatory Technical Standards (RTS) on resolution planning and on draft Guidelines on measures to reduce or remove impediments to resolvability. These RTS and Guidelines are part of the EBA’s work to promote a consistent and coherent approach to bank resolution across the European Union. Both consultations run until 9 October 2014.

The EBA adopted a formal Recommendation to ensure that major EU cross-border banks develop group recovery plans by the end of 2013. The plans shall be submitted to the respective competent authorities and discussed within colleges of supervisors. The aim of the Recommendation is to spur the development of recovery plans and to foster convergence on the highest standards across the Union.