Early intervention measures and preparation for resolution
Article 13 is replaced by a new set of articles (Articles 13 to 13c) mirroring the BRRD provisions on early intervention (Articles 27 to 29 BRRD), in order to provide the ECB with a directly applicable legal basis for the exercise of those powers. As in BRRD, the escalation mechanism between the different types of measures is clarified and it is specified that the prior adoption of early intervention measures, or the meeting of the conditions for early intervention, are not prerequisites to start the preparation for resolution or to exercise the related powers.
SRMR already included provisions concerning the cooperation and exchange of information between the Board and the ECB or national competent authorities (NCAs) when the financial situation of a bank starts deteriorating. However, those provisions needed to be strengthened to ensure better and more effective cooperation. The new Article 13c builds on the former Article 13
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