European Union:
The Recovery And Resolution Directive
Putting Theory Into Practice
To print this article, all you need is to be registered or login on Mondaq.com.
Background
The Recovery and Resolution Directive, the legislative
cornerstone of the EU's response to the problem of 'too big
to fail' banks, has been passed by lawmakers in the European
Parliament. The legislation paves the way for European Union
countries to create a consistent set of national laws to implement
the Financial Stability Board's 'Key Attributes of
Effective Resolution Regimes for Financial Institutions',
including the power to 'bail-in' bank creditors.
But there is still a long way to go to make systemically
important banks resolvable. This paper highlights key areas of
focus for senior management as they look to embed resolution
planning into their business-as-usual practices, including
integrating the effect of bail-in resolution strategies, enhancing
data capabilities (particularly for the purpose of performing
valuations), ensuring operational continuity, and making the right
links with other regulatory requirements.
Download
The Recovery and Resolution Directive: Putting theory into
practice
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from European Union
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.