There has been published in the Official Journal of the EU (OJ) the Commission Delegated Regulation of 7 June 2016 supplementing the Bank Recovery and Resolution Directive with regard to regulatory technical standards specifying a minimum set of the information on financial contracts that should be contained in the detailed records and the circumstances in which the requirement should be imposed.
Article 1 of the Delegated Regulation covers the requirement placed on an institution to maintain detailed records of its financial contracts. Article 2 is concerned with the institution retaining on an on-going basis the minimum set of information for each financial contract on its records. Annex I to the Delegated Regulation sets out the minimum set of information on financial contracts to be included in the detailed records. This covers information on the parties to the financial contract, the financial contract type, detailed on the transaction and applicable clearing requirements.
The Delegated Regulation enters into force on the twentieth day following its publication in the OJ. It is binding in its entirety and directly applicable in all Member States.
