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BRRD

Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms
32014L0059 · official text on EUR-Lex

Articles

• Article 1 — Subject matter and scope
• Article 2 — Definitions
• Article 3 — Designation of authorities responsible for resolution

Chapter I Recovery and resolution planning

Section 1 General provisions

• Article 4 — Simplified obligations for certain institutions

Section 2 Recovery planning

• Article 5 — Recovery plans
• Article 6 — Assessment of recovery plans
• Article 7 — Group recovery plans
• Article 8 — Assessment of group recovery plans
• Article 9 — Recovery Plan Indicators

Section 3 Resolution planning

• Article 10 — Resolution plans
• Article 11 — Information for the purpose of resolution plans and cooperation from the institution
• Article 12 — Group resolution plans
• Article 13 — Requirement and procedure for group resolution plans
• Article 14 — Transmission of resolution plans to the competent authorities

Chapter II Resolvability

• Article 15 — Assessment of resolvability for institutions
• Article 16 — Assessment of resolvability for groups
• Article 17 — Powers to address or remove impediments to resolvability
• Article 18 — Powers to address or remove impediments to resolvability: group treatment

Chapter III Intra group financial support

• Article 19 — Group financial support agreement
• Article 20 — Review of proposed agreement by competent authorities and mediation
• Article 21 — Approval of proposed agreement by shareholders
• Article 22 — Transmission of the group financial support agreements to resolution authorities
• Article 23 — Conditions for group financial support
• Article 24 — Decision to provide financial support
• Article 25 — Right of opposition of competent authorities
• Article 26 — Disclosure
• Article 27 — Early intervention measures
• Article 28 — Removal of senior management and management body
• Article 29 — Temporary administrator
• Article 30 — Coordination of early intervention measures and appointment of temporary administrator in relation to groups

Chapter I Objectives, conditions and general principles

• Article 31 — Resolution objectives
• Article 32 — Conditions for resolution
• Article 33 — Conditions for resolution with regard to financial institutions and holding companies
• Article 34 — General principles governing resolution

Chapter II Special management

• Article 35 — Special management

Chapter III Valuation

• Article 36 — Valuation for the purposes of resolution

Chapter IV Resolution tools

Section 1 General principles

• Article 37 — General principles of resolution tools

Section 2 The sale of business tool

• Article 38 — The sale of business tool
• Article 39 — Sale of business tool: procedural requirements

Section 3 The bridge institution tool

• Article 40 — Bridge institution tool
• Article 41 — Operation of a bridge institution

Section 4 The asset separation tool

• Article 42 — Asset separation tool

Section 5 The bail-in tool

• Article 43 — The bail-in tool
• Article 44 — Scope of bail-in tool
• Article 45 — Application of the minimum requirement
• Article 46 — Assessment of amount of bail-in
• Article 47 — Treatment of shareholders in bail-in or write down or conversion of capital instruments
• Article 48 — Sequence of write down and conversion
• Article 49 — Derivatives
• Article 50 — Rate of conversion of debt to equity
• Article 51 — Recovery and reorganisation measures to accompany bail-in
• Article 52 — Business reorganisation plan
• Article 53 — Effect of bail-in
• Article 54 — Removal of procedural impediments to bail-in
• Article 55 — Contractual recognition of bail-in
• Article 56 — Government financial stabilisation tools
• Article 57 — Public equity support tool
• Article 58 — Temporary public ownership tool

Chapter V Write down of capital instruments

• Article 59 — Requirement to write down or convert capital instruments
• Article 60 — Provisions governing the write down or conversion of capital instruments
• Article 61 — Authorities responsible for determination
• Article 62 — Consolidated application: procedure for determination

Chapter VI Resolution powers

• Article 63 — General powers
• Article 64 — Ancillary powers
• Article 65 — Power to require the provision of services and facilities
• Article 66 — Power to enforce crisis management measures or crisis prevention measures by other Member States
• 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
• Article 69 — Power to suspend certain obligations
• Article 70 — Power to restrict the enforcement of security interests
• Article 71 — Power to temporarily suspend termination rights
• Article 72 — Exercise of the resolution powers

Chapter VII Safeguards

• Article 73 — Treatment of shareholders and creditors in the case of partial transfers and application of the bail-in tool
• Article 74 — Valuation of difference in treatment
• Article 75 — Safeguard for shareholders and creditors
• Article 76 — Safeguard for counterparties in partial transfers
• 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 — Notification requirements
• Article 82 — Decision of the resolution authority
• Article 83 — Procedural obligations of resolution authorities
• Article 84 — Confidentiality

Chapter IX Right of appeal and exclusion of other actions

• Article 85 — Ex-ante judicial approval and rights to challenge decisions
• Article 86 — Restrictions on other proceedings
• Article 87 — General principles regarding decision-making involving more than one Member State
• Article 88 — Resolution colleges
• Article 89 — European resolution colleges
• Article 90 — Information exchange
• Article 91 — Group resolution involving a subsidiary of the group
• Article 92 — Group resolution
• Article 93 — Agreements with third countries
• Article 94 — Recognition and enforcement of third-country resolution proceedings
• Article 95 — Right to refuse recognition or enforcement of third-country resolution proceedings
• Article 96 — Resolution of Union branches
• Article 97 — Cooperation with third-country authorities
• Article 98 — Exchange of confidential information
• Article 99 — European system of financing arrangements
• Article 100 — Requirement to establish resolution financing arrangements
• Article 101 — Use of the resolution financing arrangements
• Article 102 — Target level
• Article 103 — Ex-ante contributions
• Article 104 — Extraordinary ex-post contributions
• 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
• Article 109 — Use of deposit guarantee schemes in the context of resolution
• 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
• Article 115 — Exercise of the delegation
• Article 116 — Amendment to Directive 82/891/EEC
• Article 117 — Amendments to Directive 2001/24/EC
• 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
• Article 127 — EBA Resolution Committee
• Article 128 — Cooperation with EBA
• Article 129 — Review
• Article 130 — Transposition
• Article 131 — Entry into force
• Article 132 — Addressees