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BRRD Tool Bank Recovery and Resolution Directive (BRRD)

Bank Recovery and Resolution Directive (BRRD)

Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (Text with EEA relevance)

TITLE I - SCOPE, DEFINITIONS AND AUTHORITIES (Article 1-3)Article 1 - Subject matter and scope Q&A Article 2 - Definitions DAQ&A Article 3 - Designation of authorities responsible for resolution Q&A

TITLE II - PREPARATION (Article 4-26)

CHAPTER I - Recovery and resolution planning (Article 4-14)

Section 1 - General provisions (Article 4)Article 4 - Simplified obligations for certain institutions ITSRTSQ&AGL

Section 2 - Recovery planning (Article 5-9)Article 5 - Recovery plans RTSQ&AGL Article 6 - Assessment of recovery plans RTSQ&AGL Article 7 - Group recovery plans RTSQ&AGL Article 8 - Assessment of group recovery plans RTSQ&AGL Article 9 - Recovery Plan Indicators GL

Section 3 - Resolution planning (Article 10-14)Article 10 - Resolution plans RTSQ&AGL Article 11 - Information for the purpose of resolution plans and cooperation from the institution ITSQ&AGL Article 12 - Group resolution plans RTSQ&AGL Article 13 - Requirement and procedure for group resolution plans ITSRTSQ&A Article 14 - Transmission of resolution plans to the competent authorities Q&A

CHAPTER II - Resolvability (Article 15-18)Article 15 - Assessment of resolvability for institutions RTSQ&AGL Article 16 - Assessment of resolvability for groups RTSQ&AGL Article 17 - Powers to address or remove impediments to resolvability Q&AGL Article 18 - Powers to address or remove impediments to resolvability: group treatment RTSQ&A

CHAPTER III - Intra group financial support (Article 19-26)Article 19 - Group financial support agreement ITSRTSQ&A Article 20 - Review of proposed agreement by competent authorities and mediation Q&A Article 21 - Approval of proposed agreement by shareholders Q&A Article 22 - Transmission of the group financial support agreements to resolution authorities Q&A Article 23 - Conditions for group financial support RTSQ&AGL Article 24 - Decision to provide financial support Q&A Article 25 - Right of opposition of competent authorities Q&A Article 26 - Disclosure ITSQ&A

TITLE III - EARLY INTERVENTION (Article 27-30)Article 27 - Early intervention measures Q&AGL Article 28 - Removal of senior management and management body Q&AGL Article 29 - Temporary administrator Q&A Article 30 - Coordination of early intervention measures and appointment of temporary administrator in relation to groups

TITLE IV - RESOLUTION (Article 31-86)

CHAPTER I - Objectives, conditions and general principles (Article 31-34)Article 31 - Resolution objectives Q&AGL Article 32 - Conditions for resolution Q&AGL Article 33 - Conditions for resolution with regard to financial institutions and holding companies Q&A Article 34 - General principles governing resolution Q&AGL

CHAPTER II - Special management (Article 35)Article 35 - Special management Q&AGL

CHAPTER III - Valuation (Article 36)Article 36 - Valuation for the purposes of resolution RTSQ&AGL

CHAPTER IV - Resolution tools (Article 37-58)

Section 1 - General principles (Article 37)Article 37 - General principles of resolution tools Q&A

Section 2 - The sale of business tool (Article 38-39)Article 38 - The sale of business tool Q&AGL Article 39 - Sale of business tool: procedural requirements Q&AGL

Section 3 - The bridge institution tool (Article 40-41)Article 40 - Bridge institution tool Q&AGL Article 41 - Operation of a bridge institution Q&A

Section 4 - The asset separation tool (Article 42)Article 42 - Asset separation tool Q&AGL

Section 5 - The bail-in tool (Article 43-58)

Subsection 1 - Objective and scope of the bail-in tool (Article 43-44)Article 43 - The bail-in tool Q&AGL Article 44 - Scope of bail-in tool DAQ&AGL

Subsection 2 - Minimum requirement for own funds and eligible liabilities (Article 45)Article 45 - Application of the minimum requirement ITSRTSDAQ&A

Subsection 3 - Implementation of the bail-in tool (Article 46-52)Article 46 - Assessment of amount of bail-in Q&AGL Article 47 - Treatment of shareholders in bail-in or write down or conversion of capital instruments Q&AGL Article 48 - Sequence of write down and conversion Q&AGL Article 49 - Derivatives RTS Article 50 - Rate of conversion of debt to equity GL Article 51 - Recovery and reorganisation measures to accompany bail-in Article 52 - Business reorganisation plan RTSQ&AGL

Subsection 4 - Bail-in tool: ancillary provisions (Article 53-58)Article 53 - Effect of bail-in Q&A Article 54 - Removal of procedural impediments to bail-in Article 55 - Contractual recognition of bail-in ITSRTSQ&A Article 56 - Government financial stabilisation tools Article 57 - Public equity support tool Article 58 - Temporary public ownership tool Q&A

CHAPTER V - Write down of capital instruments (Article 59-62)Article 59 - Requirement to write down or convert capital instruments Q&AGL Article 60 - Provisions governing the write down or conversion of capital instruments Q&AGL Article 61 - Authorities responsible for determination Article 62 - Consolidated application: procedure for determination GL

CHAPTER VI - Resolution powers (Article 63-72)Article 63 - General powers Q&A Article 64 - Ancillary powers Q&A Article 65 - Power to require the provision of services and facilities GL Article 66 - Power to enforce crisis management measures or crisis prevention measures by other Member States Q&A Article 67 - Power in respect of assets, rights, liabilities, shares and other instruments of ownership located in third countries Article 68 - Exclusion of certain contractual terms in early intervention and resolution Q&A Article 69 - Power to suspend certain obligations Q&A Article 70 - Power to restrict the enforcement of security interests Q&A Article 71 - Power to temporarily suspend termination rights RTSQ&A Article 72 - Exercise of the resolution powers Q&A

CHAPTER VII - Safeguards (Article 73-80)Article 73 - Treatment of shareholders and creditors in the case of partial transfers and application of the bail-in tool Q&A Article 74 - Valuation of difference in treatment RTSQ&A Article 75 - Safeguard for shareholders and creditors Q&A Article 76 - Safeguard for counterparties in partial transfers DA Article 77 - Protection for financial collateral, set off and netting agreements Article 78 - Protection for security arrangements Article 79 - Protection for structured finance arrangements and covered bonds Article 80 - Partial transfers: protection of trading, clearing and settlement systems

CHAPTER VIII - Procedural obligations (Article 81-84)Article 81 - Notification requirements RTSQ&A Article 82 - Decision of the resolution authority RTSQ&A Article 83 - Procedural obligations of resolution authorities RTS Article 84 - Confidentiality GL

CHAPTER IX - Right of appeal and exclusion of other actions (Article 85-86)Article 85 - Ex-ante judicial approval and rights to challenge decisions Article 86 - Restrictions on other proceedings

TITLE V - CROSS-BORDER GROUP RESOLUTION (Article 87-92)Article 87 - General principles regarding decision-making involving more than one Member State Article 88 - Resolution colleges RTSQ&AGL Article 89 - European resolution colleges Q&AGL Article 90 - Information exchange Article 91 - Group resolution involving a subsidiary of the group RTSQ&A Article 92 - Group resolution RTSQ&A

TITLE VI - RELATIONS WITH THIRD COUNTRIES (Article 93-98)Article 93 - Agreements with third countries Article 94 - Recognition and enforcement of third-country resolution proceedings Q&A Article 95 - Right to refuse recognition or enforcement of third-country resolution proceedings Article 96 - Resolution of Union branches Q&A Article 97 - Cooperation with third-country authorities GL Article 98 - Exchange of confidential information GL

TITLE VII - FINANCING ARRANGEMENTS (Article 99-109)Article 99 - European system of financing arrangements Article 100 - Requirement to establish resolution financing arrangements Article 101 - Use of the resolution financing arrangements Q&A Article 102 - Target level Article 103 - Ex-ante contributions DAQ&A Article 104 - Extraordinary ex-post contributions DA Article 105 - Alternative funding means Article 106 - Borrowing between financing arrangements Article 107 - Mutualisation of national financing arrangements in the case of a group resolution Article 108 - Ranking of deposits in insolvency hierarchy Q&A Article 109 - Use of deposit guarantee schemes in the context of resolution Q&A

TITLE VIII - PENALTIES (Article 110-114)Article 110 - Administrative penalties and other administrative measures Article 111 - Specific provisions Article 112 - Publication of administrative penalties Article 113 - Maintenance of central database by EBA Article 114 - Effective application of penalties and exercise of powers to impose penalties by competent authorities and resolution authorities

TITLE IX - POWERS OF EXECUTION (Article 115)Article 115 - Exercise of the delegation

TITLE X - AMENDMENTS TO DIRECTIVES 82/891/EEC, 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU AND 2013/36/EU AND TO REGULATIONS (EU) NO 1093/2010 AND (EU) NO 648/2012 (Article 116-126)Article 116 - Amendment to Directive 82/891/EEC Article 117 - Amendments to Directive 2001/24/EC Q&A Article 118 - Amendment to Directive 2002/47/EC Article 119 - Amendment to Directive 2004/25/EC Article 120 - Amendment to Directive 2005/56/EC Article 121 - Amendments to Directive 2007/36/EC Article 122 - Amendment to Directive 2011/35/EU Article 123 - Amendment to Directive 2012/30/EU Article 124 - Amendment to Directive 2013/36/EU Article 125 - Amendment to Regulation (EU) No 1093/2010 Article 126 - Amendment to Regulation (EU) No 648/2012

TITLE XI - FINAL PROVISIONS (Article 127-132)Article 127 - EBA Resolution Committee Article 128 - Cooperation with EBA Article 129 - Review Article 130 - Transposition Article 131 - Entry into force Article 132 - Addressees

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