The European Banking Authority (EBA) has published the following relating to Article 4 of the Bank Recovery and Resolution Directive (BRRD):
- a report on the application of simplified obligations and waivers in recovery and resolution planning. The report provides an overview of how Member State competent and resolution authorities have applied the simplified obligations and principle of proportionality in recovery and resolution planning since the BRRD entered into force in January 2015. As of 30 April 2017, around only half of Member State competent and resolution authorities had granted simplified obligations or waivers to institutions. In other cases, the decision whether or not to apply simplified obligations and waivers had been delayed because of the late transposition of the BRRD into national legal frameworks and/or delays in the implementation and execution of formally adopted rules. The EBA will submit the report to the European Parliament, the Council of the EU and the European Commission, by 31 December 2017, for further consideration of possible amendments to ensure greater convergence of practices;
- a report on final draft regulatory technical standards (RTS) on simplified obligations under Article 4(6) of the BRRD. The EBA consulted on the draft RTS in May 2017. Feedback to the consultation, together with the EBA’s response, is set out in section 4 of the report. The draft RTS promote convergence of practices among authorities by creating a common framework for assessing institutions’ eligibility for simplified obligations. They are also intended to facilitate co-operation among Member State competent and resolution authorities in conducting these assessments, including as regards cross-border groups. The draft RTS are set out in section 3 of the report. The EBA will submit the draft RTS to the European Commission for approval.
The EBA will closely monitor the identified differences in relation to the scope of application of simplified obligations and waivers as well as to the impact of the final draft RTS.
View EBA final report on draft regulatory technical standards on simplified obligations under Article 4(6) of Directive 2014/59/EU, 19 December 2017
View EBA report on the application of simplified obligations and waivers in recovery and resolution planning, 19 December 2017