Commission Implementing Regulation (EU) 2018/308
of 1 March 2018
laying down implementing technical standards for Directive 2014/59/EU of the European Parliament and of the Council with regard to formats, templates and definitions for the identification and transmission of information by resolution authorities for the purposes of informing the European Banking Authority of the minimum requirement for own funds and eligible liabilities
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Whereas:
Resolution authorities are required under Article 45(16) of Directive 2014/59/EU to inform the European Banking Authority (EBA), in coordination with competent authorities, of the requirements they have set. Uniform formats, templates and definitions for the identification and transmission of that information to the EBA should be designed in such a way that they facilitate the monitoring by the EBA of MREL decisions and ensure a meaningful assessment of convergence in approach across the Union.
In respect of groups which are subject to a consolidated MREL, it is necessary to clarify which resolution authority should transmit to the EBA the information on, first, the MREL determined for the parent undertaking concerned, and second, the MREL applied to the subsidiaries, whether on the basis of a joint decision reached between the group-level resolution authority and the resolution authority responsible for the subsidiary on an individual basis, or of a decision taken by the resolution authority of the subsidiary in the absence of a joint decision. In order to ensure that the EBA is provided with the necessary information as regards both the parent undertaking and the subsidiaries, the relevant group-level resolution authority should be required to inform the EBA, in coordination with the consolidating supervisor, of both the MREL determined on an individual and the MREL determined on a consolidated basis for the parent undertaking concerned, and the resolution authorities responsible for a group's subsidiaries, in coordination with competent authorities, should be required to inform the EBA of the MREL that has been set for each institution under their jurisdiction.
In order to promote convergence of practices regarding MREL decisions and to strengthen the monitoring role of the EBA, uniform reporting periods and submission dates for the transmission of information by the resolution authorities to the EBA should be established.
This Regulation is based on the draft implementing technical standards submitted by the EBA to the Commission.
HAS ADOPTED THIS REGULATION: