On 13 June 2023, the European Banking Authority (EBA) published final guidelines amending its guidelines on improving resolvability for institutions and resolution authorities under Articles 15 and 16 of the Bank Recovery and Resolution Directive.

The guidelines:

  • Introduce a self-assessment by resolution entities of their resolvability, focusing on the minimum standard set by the EBA’s January 2022 resolvability guidelines (EBA/2022/01) and September 2022 transferability guidelines (EBA/GL/2022/11). By January 2024, all resolution groups and stand-alone institutions, and to some extent some institutions earmarked for liquidation, should comply with the EBA resolvability guidelines.
  • Require authorities to develop a multi-annual testing programme for each resolution entity so that institutions would demonstrate the adequacy of their resolvability capabilities as set out in the EBA resolvability guidelines and transferability guidelines.
  • Introduce a master playbook for the most complex institutions. Leveraging the work done by the most advanced institutions in the EU and international peers, the master playbook aims to ensure that institutions adopt a holistic approach to resolution planning to ensure the overall coherence of their capabilities to execute the resolution strategy.

The guidelines will be translated into the official EU languages and published on the EBA website.

The deadline for Member State resolution authorities to report whether they comply with the guidelines will be two months after the publication of the translations. The guidelines will apply from 1 January 2024.

Institutions are expected to submit their first self-assessment report by 31 December 2024 and complex institutions their first master playbook by 31 December 2025. Member State authorities should provide their first testing programme by 31 December 2025.