Danish FSA Consults on Draft Executive Order on Recovery Plans
The Danish Financial Supervisory Authority (Danish FSA) published a consultation on a draft executive order on recovery plans for banks, mortgage credit institutions, a ship financing institution ,and stockbroking companies. The comment period for this consultation will end on September 12, 2022.
The draft executive order provides guidelines for the application of simplified obligations with respect to recovery plans, guidelines on possible scenarios in recovery plans, and guidelines on qualitative and quantitative indicators in recovery plans. The most significant changes compared to the previous set of rules relate to the scope of application of the executive order, the changes in indicators in Annex 2, and the clarification on time horizon for notification in the event of a breach of indicators. The draft executive order is expected to enter into force on January 01, 2023.
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Keywords: Europe, Denmark, Banking, Securities, Recovery Planning, Credit Risk, Lending, Mortgage Lending, Ship Financing Institution, Draft Executive Order, Danish FSA
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