April 25, 2019

BaFin and Bundesbank are consulting on draft "leaflet" and draft regulation on the minimum requirements for recovery plans for institutions and investment firms (MaSanV). Responses are requested by May 24, 2019.

The draft "leaflet" for the recovery plan contains explanation on the interaction of the regulations of the MaSanV and the immediately applicable Delegated Regulation (EU) No 2016/1075. For reasons of legality, these explanations cannot be made in the MaSanV. The MaSanV is structured into four sections. Section 1 contains general rules for all recovery plans, particularly the scope of MaSanV and definitions. Section 2 deals with the full requirements for recovery plans that apply to all potentially systemic institutions (PSI). In particular, the MaSanV sets EBA guidelines on the range of scenarios to be used in recovery plans (EBA/GL/2014/06) and the EBA guidelines on the minimum list of qualitative and quantitative indicators of the recovery plan (EBA/GL/2015/02) into German law. Some provisions of the Delegated Regulation (EU) No 2016/1075 are specified in more detail in the MaSanV by supplementary regulations. Section 3 deals with the simplified requirements, which the supervisory authority can lay down for non-PSI. The provisions of Section 4 concern the request for exemption, the conditions for exemption, and the substantive requirements for the recovery plan.

Pursuant to Section 12(1) of the Restructuring and Settlement Act (SAG), all credit institutions and investment firms subject to the European Capital Requirements Regulation (CRR) must draw up a restructuring plan. For institutions that are not potentially systemic, the regulator may set simplified requirements. If such institutions belong to an institution-specific security system, they can also be completely relieved of the restructuring plan.

 

Related Links (in German)

Comment Due Date: May 24, 2019

Keywords: Europe, Germany, Banking, Securities, Minimum Requirements, Recovery Planning, CRR, Bundesbank, BaFin

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