On 4 March 2019, there was published in the Official Journal of the EU (OJ) Commission Delegated Regulation (EU) 2019/348 of 25 October 2018 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.

The RTS specify that the impact of an institution’s failure should be assessed, under the BRRD, first on the basis of quantitative criteria and subsequently on the basis of qualitative criteria.  The Delegated Regulation will enter into force on 24 March 2019.