The European Parliament and the European Council have issued a Directive on the Restructuring and Resolution of Entities with the aim of solving problems of unreliability and impracticality.
The financial crisis has revealed the lack of appropriate instruments in the European Union to effectively deal with the problems of soundness or the risk of non-viability of credit institutions and investment services firms.
Directive 2014/59 / EU of the European Parliament and of the Council of 15 May 2014 establishes standards and uniform procedures for the resolution of credit institutions in participating Member States.
The aim of this policy is to ensure that:
The BRRD offers resolution authorities broad powers to intervene, in the public interest, non-viable entities.
The document includes an executive summary and key aspects of the BRRD
The BRRD is a single set of uniform standards and procedures
for the resolution of credit institutions in the European Union.
Scope of application
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