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Amending the bank resolution framework – BRRD and SRMR [EU Legislation in Progress]

Written by Andrej Stuchlik (1st edition),

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The completion and implementation of the significant overhaul of the financial regulatory framework in response to the financial crisis, including the revision of the resolution framework for banks, remains a major area of the European Commission’s work. On 23 November 2016, the Commission proposed amending the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR) in order to incorporate international standards on loss-absorption and recapitalisation; the proposals incorporate the total loss-absorbing capacity (TLAC) set by the Financial Stability Board (FSB), an international standard-setter.

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Proposal for a Directive of the European Parliament and of the Council amending Directive 2014/59/EU on loss-absorbing and recapitalisation capacity of credit institutions and investment firms and amending Directive 98/26/EC, Directive 2002/47/EC, Directive 2012/30/EU, Directive 2011/35/EU, Directive 2005/56/EC, Directive 2004/25/EC and Directive 2007/36/EC; Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 806/2014 as regards loss-absorbing and Recapitalisation Capacity for credit institutions and investment firms
Committee responsible: Economic and Monetary Affairs (ECON) COM(2016) 851
COM(2016) 852
23.11.20162016/0361(COD)
2016/0362(COD)

Ordinary legislative procedure (COD) (Parliament and Council on equal footing (formerly ‘co-decision’)

Rapporteur: Gunnar Hökmark (EPP, Sweden)
Shadow rapporteurs:

 

Pedro Silva Pereira (S&D, Portugal)

Syed Kamall (ECR, United Kingdom)

Sylvie Goulard (ALDE, France – to be replaced)

Fabio de Masi (GUE/NGL, Germany)

BRRD:

Philippe Lamberts (Greens/EFA, Belgium)

SRMR:

Ernest Urtasun (Greens/EFA, Spain)

Marco Valli (EFDD, Italy)

Marco Zanni (ENF, Italy)

Next steps expected: Vote in plenary

Stage: EESC


This slideshow requires JavaScript.

Comparing TLAC and the current MREL requirement

Comparing TLAC and the current MREL requirement

Proposed changes to the MREL framework

Proposed changes to the MREL framework

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The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy. Copyright © European Union, 2014. All rights reserved

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