General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
November 07, 2018

EC finalized the Implementing Regulation (EU) 2018/1624 that lays down implementing technical standards on procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms. Regulation 2018/1624 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Regulation 2016/1066 specifies the procedure and introduces a minimum set of templates for the provision of information to resolution authorities by credit institutions or investment firms for the purpose of drawing up and implementing resolution plans for institutions. In light of the experience gained by resolution authorities in the area of resolution planning, it is necessary to update the minimum set of templates for the collection of information for resolution planning purposes. Thus, Regulation 2018/1624, which is pursuant to the Bank Recovery and Resolution Directive (BRRD or Directive 2014/59/EU), will repeal the Commission Implementing Regulation (EU) 2016/1066. Regulation 2018/1624 contains the following Annexes:

  • Annex I contains the resolution templates.
  • Annex II specifies the associated instructions for the data to be reported.
  • Annex III stipulates criteria for the single data point model. All data items set out in the templates (Annex 1) shall be transformed into a single data point model, which is the basis for uniform IT systems of institutions and resolution authorities.
  • Annex IV describes the validation rules that data items set out in Annex I shall be subject to, with the aim to ensure data quality and consistency. 

Institutions shall submit the information referred to in Article 3(1) of Regulation 2018/1624 by April 30 each year in respect of the last day of the previous calendar year or of the relevant financial year. If April 30 is not a business day, the information shall be provided on the following business day. Institutions or, in the case of groups Union parent undertakings, shall submit the information referred to in Article 3(1) in the data exchange formats and representations specified by resolution authorities and shall respect the data point definitions included in the single data point model referred to in Annex III and the validation rules referred to in Annex IV.  Regulation 2018/1624 is based on the implementing technical standards submitted by EBA to EC. EBA conducted open public consultations on the implementing technical standards on which this regulation is based, analyzed the potential related costs and benefits, and requested the opinion of the Banking Stakeholder Group.

 

Related Links 

Effective Date:  November 27, 2018

Keywords: Europe, EU, Banking, Implementing Technical Standards, BRRD, Resolution Plan, Reporting, Resolution Templates, EBA, EC

Related Articles
News

HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%

HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.

April 16, 2019 WebPage Regulatory News
News

EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2

The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.

April 16, 2019 WebPage Regulatory News
News

FDIC Consults on Approach to Resolution Planning for IDIs

FDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.

April 16, 2019 WebPage Regulatory News
News

EP Resolution on Proposal for Sovereign Bond Backed Securities

The European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).

April 16, 2019 WebPage Regulatory News
News

PRA Seeks Input and Issues Specifications for Insurance Stress Tests

PRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.

April 15, 2019 WebPage Regulatory News
News

PRA Finalizes Policy on Approach to Managing Climate Change Risks

PRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).

April 15, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for April 2019

EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.

April 12, 2019 WebPage Regulatory News
News

EIOPA Statement on Application of Proportionality in SCR Supervision

EIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.

April 11, 2019 WebPage Regulatory News
News

FED Updates Form and Supplemental Instructions for FR Y-9C Reporting

FED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.

April 11, 2019 WebPage Regulatory News
News

OSFI Finalizes Guidelines on Liquidity Adequacy and NSFR Disclosures

OSFI published the final Liquidity Adequacy Requirements (LAR) guideline and the net stable funding ratio (NSFR) disclosure requirements guideline.

April 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2920