On 25 October 2018, the European Commission adopted a Delegated Regulation supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) specifying the criteria for assessing the impact of an institution’s failure on financial markets, on other institutions and on funding conditions.
Essentially the RTS promote convergence of practices among Member State authorities by creating a common framework for assessing institutions’ eligibility for simplified obligations when drafting their recovery and resolution plans. They also facilitate cooperation among competent and resolution authorities in conducting these assessments, including as regards cross-border groups.
The Annexes to the Delegated Regulation have also been published.