There has been published in the Official Journal of the EU (OJ) Commission Implementing Regulation of 9 June 2016 laying down implementing technical standards with regard to the form and the content of the description of group financial support agreements in accordance with the Bank Recovery and Resolution Directive.
The intention behind the ITS is to ensure a high standard of transparency with regard to group financial support agreements. This is so that creditors of the group are in the position to make informed investment decisions and assess the consequences of the agreement on individual subsidiaries and the group as a whole.
The Implementing Regulation enters into force on the twentieth day following its publication in the OJ.
