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October 11, 2017

EBA launched a consultation to amend the implementing technical standards on the information that institutions must provide to resolution authorities for drawing up and implementing resolution plans. This review aims to update the framework taking into account the latest experience available in the areas of resolution planning and supervisory reporting. The consultation ends on December 11, 2017. The new framework is expected to be operational in 2019, when resolution authorities will collect information as of December 31, 2018.

The proposed revisions envisage content changes to  many of the original templates, the deletion of some others—primarily where the necessary information is available through supervisory reporting channels—and the addition of one new template to collect information about relevant deposit guarantee scheme arrangements. In addition to the content changes, the proposal:

  • Clarifies the scope of the reporting framework in line with the Bank Recovery and Resolution Directive (BRRD)
  • Specifies minimum procedural and technical reporting requirements
  • Allows for the application of simplified reporting obligations for small institutions

The ITS on procedures, standard forms and templates for the provision of information for the purpose of resolution plans sets out a procedure that should be followed when resolution authorities require information about an institution for the purpose of drawing up a resolution plan. The Bank Recovery and Resolution Directive (BRRD) requires resolution authorities to draw up resolution plans that outline the actions to be taken in case an institution meets the conditions for resolution. Since the delivery of the implementing technical standards on the forms and templates required for the preparation of resolution plans in 2015, there has been significant evolution in the policy and practices applied by authorities in the development of plans for financial institutions. To deliver efficient and harmonized practices, EBA, in conjunction with the European resolution authorities, has initiated a review of this reporting process. The consultation seeks to obtain stakeholder views on the proposed amendments. 

 

Related Links

Comment Due Date: December 11, 2017

Keywords: Europe, EU, Banking, Implementing Technical Standards, Resolution Planning, Reporting, BRRD, EBA

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