Bank Recovery and Resolution Directive (BRRD): DIRECTIVE 2014/59/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
TITLE I: SCOPE, DEFINITIONS AND AUTHORITIES
Article 1: Subject matter and scope
Article 2: Definitions
Article 3: Designation of authorities responsible for resolution
TITLE II: PREPARATION
CHAPTER I: Recovery and resolution planning
Section 1: General provisions
Article 4: Simplified obligations for certain institutions
Section 2: Recovery planning
Article 5: Recovery plans
Article 6: Assessment of recovery plans
Article 7: Group recovery plans
Article 8: Assessment of group recovery plans
Article 9: Recovery Plan Indicators
Section 3: Resolution planning
Article 10: Resolution plans
Article 11: Information for the purpose of resolution plans and cooperation from the institution
Article 12: Group resolution plans
Article 13: Requirement and procedure for group resolution plans
Article 14: Transmission of resolution plans to the competent authorities
CHAPTER II: Resolvability
Article 15: Assessment of resolvability for institutions
Article 16: Assessment of resolvability for groups
Article16a: Power to prohibit certain distributions
Article 17: Powers to address or remove impediments to resolvability
Article 18: Powers to address or remove impediments to resolvability: group treatment
CHAPTER III: Intra group financial support
Article 19: Group financial support agreement
Article 20: Review of proposed agreement by competent authorities and mediation
Article 21: Approval of proposed agreement by shareholders
Article 22: Transmission of the group financial support agreements to resolution authorities
Article 23: Conditions for group financial support
Article 24: Decision to provide financial support
Article 25: Right of opposition of competent authorities
Article 26: Disclosure
TITLE III: EARLY INTERVENTION
Article 27: Early intervention measures
Article 28: Removal of senior management and management body
Article 29: Temporary administrator
Article 30: Coordination of early intervention measures and appointment of temporary administrator in relation to groups
TITLE IV: RESOLUTION
CHAPTER I: Objectives, conditions and general principles
Article 31: Resolution objectives
Article 32: Conditions for resolution
Article32a: Conditions for resolution with regard to a central body and credit institutions permanently affiliated to a central body
Article32b: Insolvency proceedings in respect of institutions and entities that are not subject to resolution action
Article 33: Conditions for resolution with regard to financial institutions and holding companies
See AlsoAbwicklung im ÜberblickArticle33a: Power to suspend certain obligations
Article 34: General principles governing resolution
CHAPTER II: Special management
Article 35: Special management
CHAPTER III: Valuation
Article 36: Valuation for the purposes of resolution
CHAPTER IV: Resolution tools
Section 1: General principles
Article 37: General principles of resolution tools
Section 2: The sale of business tool
Article 38: The sale of business tool
Article 39: Sale of business tool: procedural requirements
Section 3: The bridge institution tool
Article 40: Bridge institution tool
Article 41: Operation of a bridge institution
Section 4: The asset separation tool
Article 42: Asset separation tool
Section 5: The bail-in tool
Sub-Section 1: Objective and scope of the bail-in tool
Article 43: The bail-in tool
Article 44: Scope of bail-in tool
Article44a: Selling of subordinated eligible liabilities to retail clients
Sub-Section 2: Minimum requirement for own funds and eligible liabilities
Article45: Application and calculation of the minimum requirement for own funds and eligible liabilities
Article45a: Exemption from the minimum requirement for own funds and eligible liabilities
Article45b: Eligible liabilities for resolution entities
Article45c: Determination of the minimum requirement for own funds and eligible liabilities
Article45d: Determination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs and Union material subsidiaries of non-EU G-SIIs
Article45e: Application of the minimum requirement for own funds and eligible liabilities to resolution entities
Article45f: Application of the minimum requirement for own funds and eligible liabilities to entities that are not themselves resolution entities
Article45g: Waiver for a central body and credit institutions permanently affiliated to a central body
Article45h: Procedure for determining the minimum requirement for own funds and eligible liabilities
Article45i: Supervisory reporting and public disclosure of the requirement
Article45j: Reporting to EBA
Article45k: Breaches of the minimum requirement for own funds and eligible liabilities
Article45l: Reports
Article45m: Transitional and post-resolution arrangements
Sub-Section 3: Implementation of the bail-in tool
Article 46: Assessment of amount of bail-in
Article 47: Treatment of shareholders in bail-in or write down or conversion of capital instruments
Article 48: Sequence of write down and conversion
Article 49: Derivatives
Article 50: Rate of conversion of debt to equity
Article 51: Recovery and reorganisation measures to accompany bail-in
Article 52: Business reorganisation plan
Sub-Section 4: Bail-in tool: ancillary provisions
Article 53: Effect of bail-in
Article 54: Removal of procedural impediments to bail-in
Article55: Contractual recognition of bail-in
Article 56: Government financial stabilisation tools
Article 57: Public equity support tool
Article 58: Temporary public ownership tool
CHAPTER V: Write down or conversion of capital instruments and eligible liabilities
Article 59: Requirement to write down or convert relevant capital instruments and eligible liabilities
Article 60: Provisions concerning the write down or conversion of relevant capital instruments and eligible liabilities
Article 61: Authorities responsible for determination
Article 62: Consolidated application: procedure for determination
CHAPTER VI: Resolution powers
Article 63: General powers
Article 64: Ancillary powers
Article 65: Power to require the provision of services and facilities
Article 66: Power to enforce crisis management measures or crisis prevention measures by other Member States
Article 67: Power in respect of assets, rights, liabilities, shares and other instruments of ownership located in third countries
Article 68: Exclusion of certain contractual terms in early intervention and resolution
Article 69: Power to suspend certain obligations
Article 70: Power to restrict the enforcement of security interests
Article 71: Power to temporarily suspend termination rights
Article71a: Contractual recognition of resolution stay powers
Article 72: Exercise of the resolution powers
CHAPTER VII: Safeguards
Article 73: Treatment of shareholders and creditors in the case of partial transfers and application of the bail-in tool
Article 74: Valuation of difference in treatment
Article 75: Safeguard for shareholders and creditors
Article 76: Safeguard for counterparties in partial transfers
Article 77: Protection for financial collateral, set off and netting agreements
Article 78: Protection for security arrangements
Article 79: Protection for structured finance arrangements and covered bonds
Article 80: Partial transfers: protection of trading, clearing and settlement systems
CHAPTER VIII: Procedural obligations
Article 81: Notification requirements
Article 82: Decision of the resolution authority
Article 83: Procedural obligations of resolution authorities
Article 84: Confidentiality
CHAPTER IX: Right of appeal and exclusion of other actions
Article 85: Ex-ante judicial approval and rights to challenge decisions
Article 86: Restrictions on other proceedings
TITLE V: CROSS-BORDER GROUP RESOLUTION
Article 87: General principles regarding decision-making involving more than one Member State
Article 88: Resolution colleges
Article89: European resolution colleges
Article 90: Information exchange
Article 91: Group resolution involving a subsidiary of the group
Article 92: Group resolution
TITLE VI: RELATIONS WITH THIRD COUNTRIES
Article 93: Agreements with third countries
Article 94: Recognition and enforcement of third-country resolution proceedings
Article 95: Right to refuse recognition or enforcement of third-country resolution proceedings
Article 96: Resolution of Union branches
Article 97: Cooperation with third-country authorities
Article 98: Exchange of confidential information
TITLE VII: FINANCING ARRANGEMENTS
Article 99: European system of financing arrangements
Article 100: Requirement to establish resolution financing arrangements
Article 101: Use of the resolution financing arrangements
Article 102: Target level
Article 103: Ex-ante contributions
Article 104: Extraordinary ex-post contributions
Article 105: Alternative funding means
Article 106: Borrowing between financing arrangements
Article 107: Mutualisation of national financing arrangements in the case of a group resolution
Article 108: Ranking in insolvency hierarchy
Article 109: Use of deposit guarantee schemes in the context of resolution
TITLE VIII: PENALTIES
Article 110: Administrative penalties and other administrative measures
Article 111: Specific provisions
Article 112: Publication of administrative penalties
Article 113: Maintenance of central database by EBA
Article 114: Effective application of penalties and exercise of powers to impose penalties by competent authorities and resolution authorities
TITLE IX: POWERS OF EXECUTION
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
Article 117: Amendments to Directive 2001/24/EC
Article 118: Amendment to Directive 2002/47/EC
Article 119: Amendment to Directive 2004/25/EC
Article 121: Amendments to Directive 2007/36/EC
Article 124: Amendment to Directive 2013/36/EU
Article 125: Amendment to Regulation (EU) No1093/2010
Article 126: Amendment to Regulation (EU) No648/2012
TITLE XI: FINAL PROVISIONS
Article 127: EBA Resolution Committee
Article 128: Cooperation with EBA
Article 129: Review
Article 130: Transposition
Article 131: Entry into force
Article 132: Addressees
ANNEX: SECTION A Information to be included in recovery plans
ANNEX: SECTION B Information that resolution authorities may request institutions to provide for the purposes of drawing up and maintaining resolution plans
ANNEX: SECTION C Matters that the resolution authority is to consider when assessing the resolvability of an institution or group
