The European Commission (the Commission) had adopted a Delegated Regulation containing regulatory technical standards (RTS) relating to business reorganisation plans under the Bank Recovery and Resolution Directive (BRRD).
The Delegated Regulation states that, among other things, the business reorganisation plan should include:
- a historic and financial account of the factors that contributed to the difficulties of the institution, including relevant performance indicators that deteriorated in the period preceding the resolution and the reason for their deterioration;
- the firm’s projected financial performance;
- sufficient information to enable the authorities to conduct a viability assessment of the feasibility of the proposed measures; and
- quarterly implementation milestones and performance indicators.
The Delegated Regulation is based on the RTS submitted by the European Banking Authority to the Commission in December 2015. The Delegated Regulation enters into force on the twentieth day following that of its publication in the Official Journal of the European Union.
View Commission Delegated Regulation (EU) No../.. of 10.5.2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the minimum elements of a business reorganisation plan and the minimum contents of the reports on the progress in the implementation of the plan, 10 May 2016