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    BaFin Replaces Form for Reporting of Recovery Plans by LSIs

    June 30, 2020

    BaFin has replaced the form for reporting of recovery plans of less significant institutions (LSIs), according to the simplified requirements under §19 Recovery and Resolution Act (SAG). BaFin also published a guide to the web form for the reporting of recovery plans, along with the frequently asked questions on reporting of the recovery plans according to the simplified requirements.

    The Excel form, which was published in October 2019, has been replaced with a more user-friendly web form. Institutions can fill the form directly on the registration and publication platform (MVP) and then submit it. The documents supplementing the recovery plan can no longer be uploaded separately as attachments. Instead, users can import these documents directly into the web form and submit them along with the form.

    In addition, BaFin has announced an extension of the General Order, published in June 2019, regarding “the granting of the general license to certain institutions with regard to the termination, repayment, or buyback of eligible liabilities before their contractual maturity." The term of the General Order has been extended until December 28, 2020. The General Order is based on Article 78a paragraph 1 subparagraph 2 of the revised Capital Requirements Regulation (CRR2).

     

    Related Links (in German)

    Keywords: Europe, Germany, Banking, Less Significant Institutions, Recovery Plan, Reporting, CRR2, Resolution Framework, Recovery and Resolution Act, BaFin

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