BaFin issued the consultation 17/2020 on external bail-in implementation in Germany. The consultation document offers an overview of the actors involved and outlines their responsibilities for external bail-in implementation. It further provides an overview of the overall process of external bail-in implementation in accordance with the requirements of the resolution order and describes the operational implementation of the external bail-in implementation by the actors involved and their specific tasks. Responses on the consultation are requested by January 15, 2021. In addition, in response to the COVID-19 pandemic, BaFin welcomed the ECB recommendation and advised the less significant German institutions to consider not distributing dividends and profits, or to limit such distributions.
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Comment Due Date: January 15, 2021
Keywords: Europe, Germany, Banking, Bail-In, Dividend Distribution, COVID-19, Resolution Framework, ECB, BaFin
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