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Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 27 June 2019 - onwards
Version 3 of 3

Article 88 Resolution colleges

DRAFT Paragraph inserted Article 90 Amendments to Directive 2014/59/EU of the Proposal for a Directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2009/138/EC, (EU) 2017/1132 and Regulations (EU) No 1094/2010 and (EU) No 648/2012 (COM(2021) 582 final / 2021/0296 (COD)) (Insurance Recovery and Resolution Directive IRRD) (updated 18 June 2024 with Information Note - Proposals under the ordinary legislative procedure expected to undergo the Corrigendum Procedure in the European Parliament (part I))

1. Subject to Article 89, group-level resolution authorities shall establish resolution colleges to carry out the tasks referred to in Articles 12, 13, 16, 18, 45 to 45h, 91 and 92, and, where appropriate, to ensure cooperation and coordination with third-country resolution authorities.

In particular, resolution colleges shall provide a framework for the group-level resolution authority, the other resolution authorities and, where appropriate, competent authorities and consolidating supervisors concerned to perform the following tasks:

(a) exchanging information relevant for the development of group resolution plans, for the application to groups of preparatory and preventative powers and for group resolution;

(b) developing group resolution plans pursuant to Articles 12 and 13;

(c) assessing the resolvability of groups pursuant to Article 16;