BaFin Publishes Form and Guide for Less Significant Institutions

By Regulatory News

October 10, 2019

Basel III, Regulatory Reporting: EU

BaFin published the form and instructions (guide) for reporting of the recovery plans of the less significant institutions. The recovery plan form is used to facilitate remediation planning according to simplified requirements while the guide will help these institutions to prepare their recovery plans under the simplified requirements under the Restructuring and Settlement (Sanierungsund Abwicklungsgesetz or SAG) Act. Institutions that are neither financial institutions posing a potential systemic risk nor high-priority less significant institutions are subject to simplified requirements for the recovery plans under this Act. These institutions do not need to submit a full text-based recovery plan, but only the Excel sheet with all the required information, as specified in the guide.

The Excel format is suitable both for individual remediation plans and group rehabilitation plans pursuant to the SAG Act. As per the requirements in the Excel form, the recovery plans should comply with the requirements of SAG Act, Delegated Regulation (EU) No. 2016/1075, and the Minimum Requirements Regulation to Recovery Plans for Institutions and Investment Firms (MaSanV). The tables provided in the format comprise the core elements of the reorganization planning of institutions that can use simplified requirements and structure them uniformly. BaFin, however, can, if necessary, demand additional or more detailed information as well as descriptions of the operative design of individual points. The form is provided via the portal of the Reporting and publishing platform (MVP-Portal).

Related Links (in German)

Keywords: Europe, Germany, Banking, Less Significant Institutions, Restructuring and Settlement Act, Reporting, Recovery Planning, Instructions, BaFin

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