Living Wills

Fri 01 Jun, 2018

Deadline for the Commission to report on the implementation of BRRD. 129 BRRD

Sun 31 Dec, 2017

Deadline for EBA to report on simplified obligations for certain institutions, detailed in Article 4(1)(8)(9)(10). 4(7) BRRD

Mon 03 Jul, 2017

Deadline for the Commission to review and report on EBA’s power to conduct binding mediation under articles 13, 18 and 45, taking into account future developments in financial services law.  129 BRRD

Sun 01 Jan, 2017

Effective date of PRA 3 rd. country contractual stay in respect of non-credit institutions/ non-investment firms

Sat 31 Dec, 2016

Deadline for the Commission to submit a legislative proposal on the appropriate reference point for setting the target level for resolution financing arrangements, based on the EBA report required under 102(4). 102(5) BRRD

Sat 31 Dec, 2016

Deadline for the Commission to submit a legislative proposal on minimum requirements for own funds and eligible liabilities, based on the EBA report required under 45(19). 45(18) BRRD

Mon 31 Oct, 2016

Deadline for EBA to submit a report with recommendations on the appropriate reference point for setting the target level for resolution financing arrangements, and in particular whether total liabilities constitute a more appropriate basis than covered deposits 102(4) BRRD

Mon 31 Oct, 2016

Deadline for EBA to report on minimum requirements for own funds and eligible liabilities, covering at least the issues identified in Article 45(19)(a) to (n) BRRD

Fri 14 Oct, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/1712 of 7 June 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms with regard to regulatory technical standards specifying a minimum set of the information on financial contracts that should be contained in the detailed records and the circumstances in which the requirement should be imposed

Fri 23 Sep, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/1450 of 23 May 2016 supplementing BRRD with regard to regulatory technical standards specifying the criteria relating to the methodology for setting the minimum requirement for own funds and eligible liabilities (MREL)

Mon 12 Sep, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/1401 of 23 May 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms with regard to regulatory technical standards for methodologies and principles on the valuation of liabilities arising from derivatives

Mon 12 Sep, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/1400 of 10 May 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the minimum elements of a business reorganisation plan and the minimum contents of the reports on the progress in the implementation of the plan

Wed 31 Aug, 2016

FCA Implementation of the Recovery and Resolution Directive resulting from supervisory feedback and EBA Guidelines/ Binding Technical Standards – Consultation Paper (expected – summer 2016)

Thu 28 Jul, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/1075 of 23 March 2016 supplementing Directive 2014/59/EU of the European Parltime and of the Council with regard to regulatory technical standards specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent authority is to assess as regards recovery plans and group recovery plans, the conditions for group financial support, the requirements for independent valuers, the contractual recognition of write-down and conversion powers, the procedures and contents of notification requirements and of notice of suspension and the operational functioning of the resolution colleges

Tue 26 Jul, 2016

Entry into force of Commission Implementing Regulation (EU) 2016/1066 of 17 June 2016 laying down implementing technical standards with regard to procedures, standard forms and templates for the provision of information for the purpose of resolution plans for credit institutions and investment firms pursuant to BRRD

Thu 07 Jul, 2016

Entry into force of Commission Implementing Regulation (EU) 2016/962 of 16 June 2016 laying down implementing technical standards with regard to the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the European Banking Authority according to BRRD

Sun 03 Jul, 2016

Deadline for EBA to report on the publication of penalties by Member States on an anonymous basis 112(4) BRRD

Thu 30 Jun, 2016

Entry into force of Commission Implementing Regulation (EU) 2016/911 of 9 June 2016 laying down implementing technical standards with regard to the form and the content of the description of group financial support agreements in accordance with Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms

Tue 21 Jun, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/860 of 4 February 2016 specifying further the circumstances where exclusion from the application of write-down or conversion powers is necessary under Article 44(3) of Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms

Thu 09 Jun, 2016

Entry into force of Commission Delegated Regulation (EU) 2016/778 of 2 February 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to the circumstances and conditions under which the payment of extraordinary ex post contributions may be partially or entirely deferred, and on the criteria for the determination of the activities, services and operations with regard to critical functions, and for the determination of the business lines and associated services with regard to core business lines

Wed 01 Jun, 2016

Effective date of PRA 3 rd. country contractual stay in respect of credit institutions/investment firms

Tue 10 May, 2016

Commission publishes RTS specifying the minimum elements of a business reorganisation plan and the minimum contents of the reports on the progress in the implementation of the plan (C(2016) 2665)

Tue 19 Apr, 2016

EBA publishes Final Report Guidelines on the provision of information in summary or collective form the purposes of Article 84(3) of BRRD (EBA/GL/2016/03)

Wed 23 Mar, 2016

Commission adopts Delegation Regulation with regard to RTS specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent authority is to assess as regards recovery plans and group recovery plans, the conditions for group financial support, the requirements for independent valuers, the contractual recognition of write-down and conversion powers, the procedures and contents of notification requirements and of notice of suspension and the operational functioning of the resolution colleges. (C(2016) 1691)

Fri 18 Mar, 2016

Commission adopts Delegation Regulation on classes of arrangements to be protected in a partial property transfer under BRRD (C(2016) 1372)

Thu 04 Feb, 2016

Commission adopts Delegated Regulation specifying further the circumstances where exclusion from the application of write-down or conversion powers is necessary under BRRD (C(2016) 379)

Tue 02 Feb, 2016

Commission adopts Delegated Regulation with regard to the circumstances and conditions under which the payment of extraordinary ex-post contributions may be partially or entirely deferred, and on the criteria for the determination of the activities, services and operations with regard to critical functions, and for the determination of the business lines and associated services with regard to core business lines (C(2016) 424)

Fri 01 Jan, 2016

Deadline for applying the provisions on the bail-in tool

Fri 01 Jan, 2016

Q1 Projected imposition  of exemption stay for repo and securities

Thu 31 Dec, 2015

Deadline for the Commission to report on whether there is a continuing need for allowing support measures taking the form of injection of own funds or purchase of capital instruments, and provide legislative proposal if appropriate. 32(4) BRRD

Wed 23 Dec, 2015

ESMA publishes CP on Guidelines on transaction reporting, reference data, order record keeping & clock synchronisation (ESMA/2015/1909)

Thu 17 Dec, 2015

EBA publishes Final Report Draft RTS on a minimum set of the information on financial contracts that should be contained in the detailed records and the circumstances in which the requirement should be imposed (Article 71(8) BRRD) (EBA/RTS/2015/13)

Thu 17 Dec, 2015

EBA publishes Final Report Draft RTS and Guidelines on business reorganisation plans under BRRD (EBA/RTS/2015/12)

Thu 17 Dec, 2015

EBA publishes Final Report Draft RTS on the valuation of derivatives pursuant to Article 49(4) BRRD (EBA/RTS/2015/11)

Tue 08 Dec, 2015

EBA publishes Guidelines specifying the conditions for group financial support under Article 23 BRRD (EBA/GL/2015/17)

Tue 08 Dec, 2015

Tue 27 Oct, 2015

EBA publishes CP on Guidelines on the provision of information in summary or collective form for the purposes of Article 84(3) BRRD (EBA/CP/2015/18)

Fri 14 Aug, 2015

EBA publishes Technical advice on classes of arrangements to be protected in a partial property transfer under BRRD (EBA/Op/2015/15)

Thu 09 Jul, 2015

EBA publishes final draft ITS on the form and content of disclosure of financial support agreements under Article 26 of BRRD (EBA/ITS/2015/07), final draft RTS specifying the conditions for group financial support under Article 23 BRRD (EBA/RTS/2015/08) and Guidelines specifying the conditions for group financial support under Article 23 BRRD (EBA/GL/2015/17)

Tue 07 Jul, 2015

EBA publishes final draft ITS on procedures, forms and templates for the provision of information for resolution plans under Article 11(3) BRRD (EBA/ITS/2015/06)

Tue 07 Jul, 2015

EBA publishes Final Guidelines to apply simplified RRP obligations for non-systemically important firms under Art. 4 (5) BRRD (EBA/GL/2015/16)

Tue 07 Jul, 2015

EBA publishes Final Report Draft ITS on the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the EBA for the purposes of Article 4(7) BRRD (EBA/ITS/2015/05)

Mon 06 Jul, 2015

EBA final draft RTS on independent valuers under Article 36(14) BRRD (EBA/RTS/2015/07)

Fri 03 Jul, 2015

EBA final draft RTS on resolution colleges under Article 88(7) BRRD (EBA/RTS/2015/03)

Fri 03 Jul, 2015

EBA final draft RTS on procedures and contents of notifications referred to in Article 81(1), (2) and (3) and the notice of suspension referred to in Article 83 BRRD (EBA/RTS/2015/04)

Fri 03 Jul, 2015

EBA final draft RTS on procedures and contents of notifications  criteria to set the minimum requirement for own funds and eligible liabilities (MREL) as per Article 45(2) BRRD (EBA/RTS/2015/05)

Fri 03 Jul, 2015

EBA final draft RTS  on contractual recognition of write-down and conversion powers under Article 55(1) BRRD (EBA/RTS/2015/06)

Tue 26 May, 2015

EBA publishes Final report on Guidelines on the interpretation of the different circumstances when an institution shall be considered as failing or likely to fail under Article 32(6) BRRD (EBA/GL/2015/07)

Wed 20 May, 2015

EBA publishes Final Draft Guidelines on factual circumstances amounting to a material threat to financial stability and on the elements related to the effectiveness of the sale of business tool under Article 39(4) BRRD (EBA/GL/2015/04), Final Draft Guidelines on the determination of when the liquidation of assets or liabilities under normal insolvency proceedings could have an adverse effect on one or more financial markets under Article 42(14) BRRD (EBA/GL/2015/05), Final Draft Guidelines on the minimum list of services or facilities that are necessary to enable a recipient to operate a business transferred to it under Article 65(5) BRRD (EBA/GL/2015/06)

Wed 13 May, 2015

EBA publishes CP on Draft RTS on the valuation of derivatives pursuant to Article 49(4) BRRD (EBA/CP/2015/10)

Fri 08 May, 2015

EBA publishes Final report on Guidelines on triggers for use of early intervention measures pursuant to Article 27(4) BRRD (EBA/GL/2015/03)

Wed 06 May, 2015

EBA publishes Final report on Guidelines on the minimum list of qualitative and quantitative recovery plan indicators under BRRD (EBA-GL-2015-02)

Thu 12 Mar, 2015

HM Treasury publishes revised version of the Banking Act 2009 Special Resolution Regime code of practice (Section 1 relates to bail-in)

Mon 09 Mar, 2015

EBA publishes a CP on draft RTS and guidelines on business reorganisation plans under the BRRD (these plans are required after a resolution authority has used the bail-in tool (see Article 43(2) of the BRRD)) (EBA/CP/2015/05)

Fri 06 Mar, 2015

EBA publishes Technical advice on the definition of critical functions and core business lines (EBA/Op/2015/05) , Technical advice on the deferral of extraordinary ex-post contributions to financial arrangements under Article 104 of the BRRD (EBA/Op/2015/06)  and  Technical advice on circumstances when exclusions from the bail-in tool are necessary (EBA/Op/2015/07)

Fri 06 Mar, 2015

EBA publishes a CP on draft RTS on a minimum set of the information on financial contracts that should be contained in “detailed records” required by Article 71(8) of the BRRD (EBA/CP/2015/04)

Wed 14 Jan, 2015

EBA publishes Draft ITS on procedures, forms and templates for the provision of information for resolution plans under Article 11(3) BRRD (EBA/CP/2015/01)

Wed 31 Dec, 2014

Deadline for member states to adopt and publish implementing legislation and regulations, which should apply from 1 January 2015 (except for bail-in provisions which should apply from 1 January 2016 at the latest)

Fri 19 Dec, 2014

EBA publishes Final Draft RTS on the content of resolution plans and the assessment of resolvability under BRRD (EBA/RTS/2014/15), Guidelines on the specification of measures to reduce or remove impediments to resolvability and the circumstances in which each measure may be applied under BRRD (EBA/GL/2014/11) and CP on Draft RTS on procedures and contents of notifications referred to in Articles 81(1), (2) and (3) and the notice of suspension referred to in Article 83 of BRRD (EBA/CP/2014/47)

Thu 18 Dec, 2014

EBA publishes CP on Draft RTS on Resolution Colleges under Article 88(7) BRRD (EBA/CP/2014/46)

Fri 28 Nov, 2014

EBA publishes CP on Draft RTS on criteria for determining the minimum requirement for own funds and eligible liabilities under BRRD (EBA/CP/2014/41)

Sat 15 Nov, 2014

G20 Leaders’ Summit in Brisbane, Australia – Deadline for update on amendment or protocol for temporary suspension of termination rights under ISDA Master Agreement

Tue 11 Nov, 2014

EBA publishes CP on Draft Guidelines on the rate of conversion of debt to equity in bail-in under BRRD (EBA/CP/2014/39) and CP on Draft Guidelines on the treatment of shareholders in bail-in or the write-down and conversion of capital instruments under BRRD (EBA/CP/2014/40)

Wed 05 Nov, 2014

EBA publishes CP on Draft RTS on the contractual recognition of write-down and conversion powers under Article 55(3) BRRD (EBA/CP/2014/33)

Fri 31 Oct, 2014

Adoption of delegated acts on the adjustment of contributions to resolution financing arrangements in proportion to the risk profile of institutions (Expected)

Thu 16 Oct, 2014

FSB publishes a consultation paper on guidance on the identification of critical functions and critical shared services for systemically important insurers

Wed 15 Oct, 2014

FSB publishes updated version of “Key Attributes of Effective Resolution Regime for Financial Institutions” (originally published in November 2011)

Wed 15 Oct, 2014

FSB key attributes of Effective Resolution Regimes for non-bank financial institutions (expected)

Fri 03 Oct, 2014

EBA publishes  CP on Draft RTS and Draft Guidelines specifying the conditions for group financial support under Article 23 of BRRD and Draft ITS on the form and content of disclosure of financial support agreements under Article 26 of BRRD (EBA/CP/2014/30)

Wed 01 Oct, 2014

EBA publishes CP on Draft Guidelines concerning the interrelationship between the BRRD sequence of writedown and conversion and CRR/CRD IV (EBA/CP/2014/29)

Fri 26 Sep, 2014

EBA publishes CP on Draft Guidelines on the minimum list of qualitative and quantitative recovery plan indicators (EBA/CP/2014/28)

Fri 26 Sep, 2014

EBA publishes a CP on Guidelines identifying the minimum qualitative and quantitative indicators that institutions should include in their recovery plans (EBA/CP/2014/28)

Thu 25 Sep, 2014

EBA publishes CP on Draft Guidelines On the application of simplified obligations under Article 4 of the BRRD (EBA/CP/2014/25) and CP Draft ITS on the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the EBA for the purposes of Article 4(7) BRRD (EBA/CP/2014/26)

Wed 24 Sep, 2014

EBA publishes CP on Draft Guidelines on the minimum list of services or facilities that are necessary to enable a recipient to operate a business transferred to it under Article 65(5) of BRRD (EBA/CP/2014/23) and CP on Draft Guidelines on the determination when the liquidation of assets or liabilities under normal insolvency proceedings could have an adverse effect on one or more financial markets under Article 42(14) of BRRD (EBA/CP/2014/24)

Mon 22 Sep, 2014

EBA publishes CP on Draft Guidelines on triggers for use of early intervention measures pursuant to Article 27(4) of BRRD (EBA/CP/2014/21) and CP on Draft Guidelines on the interpretation of the different circumstances when an institution shall be considered as failing or likely to fail under Article 32(6) of BRRD (EBA/CP/2014/22)

Mon 22 Sep, 2014

EBA publishes Guidelines on the types of tests, reviews or exercises that may lead to support measures under Article 32(4)(d)(iii) of BRRD (EBA/GL/2014/09) (See CP EBA/CP/2014/17)

Mon 22 Sep, 2014

EBA publishes Guidelines specifying the type of tests, reviews or exercises that may lead to extraordinary public support (EBA/GL/2014/09)

Fri 01 Aug, 2014

FCA publishes Consultation Paper  on implementation of RRD. Comments must be submitted by 1 October 2014. (CP14/15)

Fri 18 Jul, 2014

EBA publishes final draft RTS on the content of recovery plans under Article 5(10) of BRRD (EBA/RTS/2014/11), final draft RTS on the assessment of recovery plans under Article 6(8) of BRRD (EBA/RTS/2014/12) and Guidelines on the range of scenarios to be used in recovery plans under BRRD (EBA/GL/2014/06)

Wed 09 Jul, 2014

EBA publishes CP on Draft Guidelines on the types of tests, reviews or exercises that may lead to support measures under Article 32(4)(d)(iii) of the BRRD (EBA/CP/2014/17)

Wed 09 Jul, 2014

EBA publishes CP on Draft RTS on the content of resolution plans and the assessment of resolvability under BRRD (EBA/CP/2014/16)

Wed 09 Jul, 2014

EBA publishes CP on Draft Guidelines on the specification of measures to reduce or remove impediments to resolvability and the circumstances in which each measure may be applied under BRRD (EBA/CP/2014/15)

Thu 03 Jul, 2014

BRRD enters into force, except for article 124 which will come into force 1 January 2015 (deletes article 74(4) of CRD IV)

Fri 20 Jun, 2014

European Commission launches a consultation on the contributions of institutions to resolution financing arrangements under BRRD

Sat 01 Feb, 2014

All UK CCPs required to maintain RRPs

Tue 31 Dec, 2013

Deadline for 39 banks to produce recovery plans in accordance with EBA’s Jan 2013 recommendation, ahead of BRRD

Fri 01 Nov, 2013

EU Commission legislative proposals on crisis management and resolution for financial institutions other than banks

Tue 01 Oct, 2013

Board and FDIC issue new resolution plan filing deadline for large US banks and foreign banks with USD 250 billion or more nonbank assets

Tue 20 Aug, 2013

Deadline for responses to EBA CP on draft RTS Specifying the range of scenarios to be used in recovery plans under the draft directive establishing a framework for the recovery and resolution of credit institutions and investment firms (See EBA CP 2013 09)

Mon 20 May, 2013

EBA publishes Consultation Paper Draft Regulatory Technical Standards Specifying the range of scenarios to be used in recovery plans under the draft directive establishing a framework for the recovery and resolution of credit institutions and investment firms (EBA CP 2013 09)

Fri 05 Oct, 2012

Tue 01 Nov, 2011

FSB publishes “Key Attributes of Effective Resolution Regime for Financial Institutions” (Updated version published on 15 October 2014)

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