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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 July 2015 - onwards
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Regulation 171 Borrowing between financing arrangements.

(1) Subject to Regulation 169, the resolution authority may make a request on behalf of the Fund to borrow from all other financing arrangements within the Union in the event that -

(a) the amounts raised under Regulation 166 are not sufficient to cover the losses, costs or other expenses incurred by the Fund,

(b) the extraordinary ex-post contributions provided for in Regulation 167 are not immediately accessible, and

(c) the alternative funding means provided for in Regulation 168 are not immediately accessible on reasonable terms.

(2) The resolution authority may lend monies from the Fund to another financing arrangement within the Union provided the circumstances specified in Article 106(1) of the Bank Recovery and Resolution Directive are applicable to that financing arrangement.

(3) Following a request from another financing arrangement under Article 106 of the Bank Recovery and Resolution Directive, the resolution authority shall decide whether or not to lend monies from the Fun

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