BaFin Consults on External Bail-In Implementation in Germany
BaFin issued the consultation 17/2020 on external bail-in implementation in Germany. The consultation document offers an overview of the actors involved and outlines their responsibilities for external bail-in implementation. It further provides an overview of the overall process of external bail-in implementation in accordance with the requirements of the resolution order and describes the operational implementation of the external bail-in implementation by the actors involved and their specific tasks. Responses on the consultation are requested by January 15, 2021. In addition, in response to the COVID-19 pandemic, BaFin welcomed the ECB recommendation and advised the less significant German institutions to consider not distributing dividends and profits, or to limit such distributions.
Related Links (in German)
Comment Due Date: January 15, 2021
Keywords: Europe, Germany, Banking, Bail-In, Dividend Distribution, COVID-19, Resolution Framework, ECB, BaFin
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