BANCI | Noutati EBA

EBA issues first binding mediation decision between the SRB and the NBR

Trimite stirea unui prieten
Nume *
E-mail *
E-mail prieten *
Mesaj
Cod validare * Turing Number
Tastati codul din imagine (doar cifre)
195.154.184.126

Autor: Bancherul.ro
2018-06-19 20:50

The European Banking Authority (EBA) publishes today its first binding mediation decisions between two resolution authorities, the Single Resolution Board (SRB) and the National Bank of Romania (NBR). The decisions were issued following a request from the NBR for the EBA to assist in settling a dispute with the SRB concerning the resolution planning for two banking groups.

The EBA´s decisions aim at settling the dispute between the SRB and NBR by providing them with a framework within which they can move forward with their resolution planning for the groups and decide on their next steps in line with the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR). The binding decisions were adopted following an attempt to find a settlement between the authorities with the EBA acting as mediator.

The text published today applies in relation to both banking groups as the underlying facts and issues were similar in both cases. The decisions require the SRB and NBR to carry out further assessment of resolvability and, in particular, to focus on assessing whether potential impediments, which have been identified, are material to resolvability. The decisions also require the resolution authorities to consider variant strategies if their conclusion is that the preferred resolution strategy is not feasible and credible.

The EBA will monitor the application of the decisions and their effectiveness in settling the disagreement through quarterly updates to be provided by the SRB and NBR and stands ready to provide other assistance to the authorities as required.

Legal basis and background

Each year, resolution authorities have to review the resolution plans they have made for EU banking groups under their jurisdiction and decide on any updates. For cross-border groups, this decision is taken jointly by the group level resolution authority and the resolution authorities of the group´s subsidiaries.

The EBA´s mediation role in disagreements between resolution authorities on resolution planning for banking groups is set out mainly in Article 13 of the BRRD and Article 19 of the EBA´s founding regulation. Article 19 of the EBA´s founding regulation provides that a resolution authority or other competent authority may request the EBA to assist in reaching an agreement between it and another competent authority. Where such a request is made, there is an initial period within which the EBA seeks to facilitate conciliation between the competent authorities. If no agreement is reached within that conciliation period, Article 19 empowers the EBA to take a decision requiring the competent authorities to take specific action or to refrain from action in order to settle the matter, with binding effects for the authorities concerned, in order to ensure compliance with Union law.

As the decisions have the same content, are addressed to the resolution authorities and do not concern any shortcoming in compliance by the banking groups, the EBA is publishing a single redacted decision.

Source: EBA statement

Comentarii



Adauga un comentariu
Nume *:

E-mail *:
(nu se afiseaza pe site)
Subiect:
*
Comentariu:

Turing Number

Tastati codul din imagine (doar cifre)  



Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: Noutati EBA



EBA issues first binding mediation decision between the SRB and the NBR

The European Banking Authority (EBA) publishes today its first binding mediation decisions between two resolution authorities, the Single Resolution Board (SRB) and the National Bank of Romania (NBR). The decisions were issued following a request from the NBR for the EBA to assist in settling a detalii

Asset repricing, cyber-attacks and Brexit are key risks for EU financial markets, shows ESA report

The securities, banking and insurance sectors in the European Union (EU) face multiple risks, the latest report on risks and vulnerabilities by the Joint Committee of the European Supervisory Authorities (ESAs) shows. detalii

EBA publishes its Roadmap on FinTech

The European Banking Authority (EBA) published a FinTech Roadmap setting out its priorities for 2018/2019. The Roadmap also sets out the establishment of a FinTech Knowledge Hub to enhance knowledge sharing and foster technological neutrality in regulatory and supervisory approaches.
detalii

EBA launches 2018 EU-wide stress test exercise

The European Banking Authority (EBA) launched today its 2018 EU-wide stress test and released the macroeconomic scenarios, said EBA in a statement. The adverse scenario implies a deviation of EU GDP from its baseline level by 8.3% in 2020, resulting in the most severe scenario to date. detalii