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ARTICLE · 30 APRIL 2018

European Banking Authority Proposes Revised Technical Standards For Resolution Reporting

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On April 16, 2018, the EBA published a final report and final revised draft Implementing Technical Standards on resolution reporting requirements.

European UnionFinance and Banking

On April 16, 2018, the EBA published a final report and final revised draft Implementing Technical Standards on resolution reporting requirements. The EBA proposes to replace the existing ITS with the revised ITS to reflect the evolution in the policy and practices applied by authorities in the development of resolution plans for financial institutions. The new framework is proposed to become operational in 2019 when resolution authorities collect information as of December 31, 2018.

The revised draft ITS set out the procedures and a minimum set of standard templates for use by institutions when providing information to resolution authorities that is needed to draw up and implement resolution plans. The power of resolution authorities to apply simplified obligations or to require further information from a firm is specifically provided for in the revised draft ITS, in line with the EU Bank Recovery and Resolution Directive. In addition, the revised draft ITS specify

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