Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 July 2015 - onwards
  Version 2 of 2    

Regulation 151 General principles regarding decision-making involving more than one Member State.

(1) The resolution authority and the competent authority, when making decisions or taking action pursuant to these Regulations that may have an impact in one, or more, other Member States, shall have regard to the following general principles:

(a) that efficacy of decision-making and minimising resolution costs are imperative when taking resolution action;

(b) that decisions should be made and action should be taken in a timely manner and with due urgency;

(c) that authorities should cooperate to ensure that decisions are made and action is taken in a coordinated and efficient manner;

(d) that authorities' roles and responsibilities should be defined clearly;

(e) that due consideration should be given to the interests of Member States where the Union parent undertakings are established, in particular the impact of any decision or action or inaction on the financial stability, fiscal resources, resolution fund, deposit guarantee scheme or investor compensation scheme of those Member Sta

Comparing proposed amendment...