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    EBA-US Agencies Conclude Cooperation Arrangement on Bank Resolution

    September 29, 2017

    EBA signed a Framework Cooperation Arrangement with several US financial regulatory agencies. This Framework Cooperation Arrangement has the objective to promote resolution planning and cooperation for cross-border institutions.

    The Framework Cooperation Arrangement lays out the basis for subsequent cooperation arrangements on bank crisis management and resolution between any of the EU Supervisory or Resolution Authorities and any of the participating US Agencies. It covers crisis-management-related topics, to include early intervention, resolution planning, resolvability assessment, and resolution. The participating US Agencies consist of FED, FDIC, OCC, SEC, and the New York State Department of Financial Services. In the EU, the Bank Recovery and Resolution Directive (BRRD) gives EBA the power to conclude such framework cooperation arrangements with non-EU authorities on resolution-related topics.

     

    Related Link: Framework Cooperation Arrangement (PDF)

    Keywords: Europe, Americas, EU, US, Banking, Framework Cooperation Agreement, BRRD, Bank Resolution, Resolution Planning, EBA, US Agencies

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