Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Published date: 12 June 2014
    Version 1 of 1    

Directive 2014/59/EU - Bank Recovery and Resolution Directive (BRRD)

Recitals
Title I Scope, definitions and authorities (arts. 1-3)
Entered into force
Article 1 Subject matter and scope
Amended
Article 2 Definitions
Entered into force
Article 3 Designation of authorities responsible for resolution
Title II Preparation (arts. 4-26)
Chapter I Recovery and resolution planning (arts. 4-14)
Section 1 General provisions (art. 4)
Entered into force
Article 4 Simplified obligations for certain institutions
Section 2 Recovery planning (arts. 5-9)
Entered into force
Article 5 Recovery plans
Entered into force
Article 6 Assessment of recovery plans
Entered into force
Article 7 Group recovery plans
Entered into force
Article 8 Assessment of group recovery plans
Entered into force
Article 9 Recovery Plan Indicators
Section 3 Resolution planning (arts. 10-14)
Entered into force
Article 10 Resolution plans
Entered into force
Article 11 Information for the purpose of resolution plans and cooperation from the institution
Entered into force
Article 12 Group resolution plans
Entered into force
Article 13 Requirement and procedure for group resolution plans
Entered into force
Article 14 Transmission of resolution plans to the competent authorities
Chapter II Resolvability (arts. 15-18)
Entered into force
Article 15 Assessment of resolvability for institutions
Entered into force
Article 16 Assessment of resolvability for groups
Entered into force
Article 17 Powers to address or remove impediments to resolvability
Entered into force
Article 18 Powers to address or remove impediments to resolvability: group treatment
Chapter III Intra group financial support (arts. 19-26)
Entered into force
Article 19 Group financial support agreement
Entered into force
Article 20 Review of proposed agreement by competent authorities and mediation
Entered into force
Article 21 Approval of proposed agreement by shareholders
Entered into force
Article 22 Transmission of the group financial support agreements to resolution authorities
Entered into force
Article 23 Conditions for group financial support
Entered into force
Article 24 Decision to provide financial support
Entered into force
Article 25 Right of opposition of competent authorities
Entered into force
Article 26 Disclosure
Title III Early intervention (arts. 27-30)
Entered into force
Article 27 Early intervention measures
Entered into force
Article 28 Removal of senior management and management body
Entered into force
Article 29 Temporary administrator
Entered into force
Article 30 Coordination of early intervention measures and appointment of temporary administrator in relation to groups
Title IV Resolution (arts. 31-86)
Chapter I Objectives, conditions and general principles (arts. 31-34)
Entered into force
Article 31 Resolution objectives
Entered into force
Article 32 Conditions for resolution
Entered into force
Article 33 Conditions for resolution with regard to financial institutions and holding companies
Entered into force
Article 34 General principles governing resolution
Chapter II Special management (art. 35)
Entered into force
Article 35 Special management
Chapter III Valuation (art. 36)
Entered into force
Article 36 Valuation for the purposes of resolution
Chapter IV Resolution tools (arts. 37-58)
Section 1 General principles (art. 37)
Entered into force
Article 37 General principles of resolution tools
Section 2 The sale of business tool (art. 38-39)
Entered into force
Article 38 The sale of business tool
Entered into force
Article 39 Sale of business tool: procedural requirements
Section 3 The bridge institution tool (arts. 40-41)
Entered into force
Article 40 Bridge institution tool
Entered into force
Article 41 Operation of a bridge institution
Section 4 The asset separation tool (art. 42)
Entered into force
Article 42 Asset separation tool
Section 5 The bail-in tool (arts. 43-58)
Subsection 1 Objective and scope of the bail-in tool (arts. 43-44)
Entered into force
Article 43 The bail-in tool
Entered into force
Article 44 Scope of bail-in tool
Subsection 2 Minimum requirement for own funds and eligible liabilities (art. 45)
Entered into force
Article 45 Application of the minimum requirement
Subsection 3 Implementation of the bail-in tool (arts. 46-52)
Entered into force
Article 46 Assessment of amount of bail-in
Entered into force
Article 47 Treatment of shareholders in bail-in or write down or conversion of capital instruments
Entered into force
Article 48 Sequence of write down and conversion
Entered into force
Article 49 Derivatives
Entered into force
Article 50 Rate of conversion of debt to equity
Entered into force
Article 51 Recovery and reorganisation measures to accompany bail-in
Entered into force
Article 52 Business reorganisation plan
Subsection 4 Bail-in tool: ancillary provisions (arts. 53-58)
Entered into force
Article 53 Effect of bail-in
Entered into force
Article 54 Removal of procedural impediments to bail-in
Entered into force
Article 55 Contractual recognition of bail-in
Entered into force
Article 56 Government financial stabilisation tools
Entered into force
Article 57 Public equity support tool
Entered into force
Article 58 Temporary public ownership tool
Chapter V Write down of capital instruments (arts. 59-62)
Entered into force
Article 59 Requirement to write down or convert capital instruments
Entered into force
Article 60 Provisions governing the write down or conversion of capital instruments
Entered into force
Article 61 Authorities responsible for determination
Entered into force
Article 62 Consolidated application: procedure for determination
Chapter VI Resolution powers (arts. 63-72)
Entered into force
Article 63 General powers
Entered into force
Article 64 Ancillary powers
Entered into force
Article 65 Power to require the provision of services and facilities
Entered into force
Article 66 Power to enforce crisis management measures or crisis prevention measures by other Member States
Entered into force
Article 67 Power in respect of assets, rights, liabilities, shares and other instruments of ownership located in third countries
Entered into force
Article 68 Exclusion of certain contractual terms in early intervention and resolution
Entered into force
Article 69 Power to suspend certain obligations
Entered into force
Article 70 Power to restrict the enforcement of security interests
Entered into force
Article 71 Power to temporarily suspend termination rights
Entered into force
Article 72 Exercise of the resolution powers
Chapter VII Safeguards (arts. 73-80)
Entered into force
Article 73 Treatment of shareholders and creditors in the case of partial transfers and application of the bail-in tool
Entered into force
Article 74 Valuation of difference in treatment
Entered into force
Article 75 Safeguard for shareholders and creditors
Entered into force
Article 76 Safeguard for counterparties in partial transfers
Entered into force
Article 77 Protection for financial collateral, set off and netting agreements
Entered into force
Article 78 Protection for security arrangements
Entered into force
Article 79 Protection for structured finance arrangements and covered bonds
Entered into force
Article 80 Partial transfers: protection of trading, clearing and settlement systems
Chapter VIII Procedural obligations (arts. 81-84)
Entered into force
Article 81 Notification requirements
Entered into force
Article 82 Decision of the resolution authority
Entered into force
Article 83 Procedural obligations of resolution authorities
Entered into force
Article 84 Confidentiality
Chapter IX Right of appeal and exclusion of other actions (arts. 85-86)
Entered into force
Article 85 Ex-ante judicial approval and rights to challenge decisions
Entered into force
Article 86 Restrictions on other proceedings
Title V Cross-border group resolution (arts. 87-92)
Entered into force
Article 87 General principles regarding decision-making involving more than one Member State
Entered into force
Article 88 Resolution colleges
Entered into force
Article 89 European resolution colleges
Entered into force
Article 90 Information exchange
Entered into force
Article 91 Group resolution involving a subsidiary of the group
Entered into force
Article 92 Group resolution
Title VI Relations with third countries (arts. 93-98)
Entered into force
Article 93 Agreements with third countries
Entered into force
Article 94 Recognition and enforcement of third-country resolution proceedings
Entered into force
Article 95 Right to refuse recognition or enforcement of third-country resolution proceedings
Entered into force
Article 96 Resolution of Union branches
Entered into force
Article 97 Cooperation with third-country authorities
Entered into force
Article 98 Exchange of confidential information
Title VII Financing arrangements (arts. 99-109)
Entered into force
Article 99 European system of financing arrangements
Entered into force
Article 100 Requirement to establish resolution financing arrangements
Entered into force
Article 101 Use of the resolution financing arrangements
Entered into force
Article 102 Target level
Entered into force
Article 103 Ex-ante contributions
Entered into force
Article 104 Extraordinary ex-post contributions
Entered into force
Article 105 Alternative funding means
Entered into force
Article 106 Borrowing between financing arrangements
Entered into force
Article 107 Mutualisation of national financing arrangements in the case of a group resolution
Amended
Article 108 Ranking in insolvency hierarchy
Entered into force
Article 109 Use of deposit guarantee schemes in the context of resolution
Title VIII Penalties (arts. 110-114)
Entered into force
Article 110 Administrative penalties and other administrative measures
Entered into force
Article 111 Specific provisions
Entered into force
Article 112 Publication of administrative penalties
Entered into force
Article 113 Maintenance of central database by EBA
Entered into force
Article 114 Effective application of penalties and exercise of powers to impose penalties by competent authorities and resolution authorities
Title IX Powers of execution (art. 115)
Entered into force
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 (arts. 116-126)
Repealed
Article 116 Amendment to Directive 82/891/EEC
Entered into force
Article 117 Amendments to Directive 2001/24/EC
Entered into force
Article 118 Amendment to Directive 2002/47/EC
Entered into force
Article 119 Amendment to Directive 2004/25/EC
Repealed
Article 120 Amendment to Directive 2005/56/EC
Entered into force
Article 121 Amendments to Directive 2007/36/EC
Repealed
Article 122 Amendment to Directive 2011/35/EU
Repealed
Article 123 Amendment to Directive 2012/30/EU
Entered into force
Article 124 Amendment to Directive 2013/36/EU
Entered into force
Article 125 Amendment to Regulation (EU) No 1093/2010
Entered into force
Article 126 Amendment to Regulation (EU) No 648/2012
Title XI Final provisions (arts. 127-132)
Entered into force
Article 127 EBA Resolution committee
Entered into force
Article 128 Cooperation with EBA
Entered into force
Article 129 Review
Entered into force
Article 130 Transposition
Entered into force
Article 131 Entry into force
Entered into force
Article 132 Addressees
Annex
Entered into force
Annex, Section A Information to be included in recovery plans
Entered into force
Annex, Section B Information that resolution authorities may request institutions to provide for the purposes of drawing up and maintaining resolution plans
Entered into force
Annex, Section C Matters that the resolution authority is to consider when assessing the resolvability of an institution or group
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