The European Banking Authority (EBA) has published a consultation paper on draft regulatory technical standards (RTS) on resolution colleges under the Bank Recovery and Resolution Directive (BRRD).
The proposed draft RTS relate to:
- the operational organisation of resolution colleges, including provisions on the establishment and ongoing functioning of resolution colleges;
- resolution planning joint decisions, which will be the key annual deliverables of the resolution college and cover the joint decision on the group resolution plan and resolvability assessment, the joint decision on measures to address substantive impediments to resolvability, and the joint decision on setting up minimum requirements for own funds and eligible liabilities; and
- cross-border group resolution, which elaborate on clear procedural steps to be taken by the resolution college in the process of assessing the need for a group resolution scheme and for taking a joint decision on the group resolution scheme.
The deadline for comments to the consultation paper is 18 March 2015. The EBA is required to submit draft RTS to the European Commission by 3 July 2015.