Implementing regulation 2015/81 - Specification of uniform conditions of application of Regulation 806/2014 with regard to ex ante contributions to the Single Resolution Fund - Main contents
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official title
Council Implementing Regulation (EU) 2015/81 of 19 December 2014 specifying uniform conditions of application of Regulation (EU) No 806/2014 of the European Parliament and of the Council with regard to ex ante contributions to the Single Resolution Fund| Legal instrument | Implementing regulation |
|---|---|
| Number legal act | Implementing regulation 2015/81 |
| Original proposal | COM(2014)710  |
| CELEX number i | 32015R0081 |
| Document | 19-12-2014 |
|---|---|
| Publication in Official Journal | 22-01-2015; OJ L 15 p. 1-7 |
| Effect | 01-01-1001; Application See Art 9 23-01-2015; Entry into force Date pub. +1 See Art 9 |
| End of validity | 31-12-9999 |
22.1.2015 |
EN |
Official Journal of the European Union |
L 15/1 |
COUNCIL IMPLEMENTING REGULATION (EU) 2015/81
of 19 December 2014
specifying uniform conditions of application of Regulation (EU) No 806/2014 of the European Parliament and of the Council with regard to ex ante contributions to the Single Resolution Fund
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (1), and in particular Article 70(7) thereof,
Having regard to the proposal from the European Commission,
Whereas:
(1) |
The Single Resolution Fund (‘the Fund’) was established pursuant to Regulation (EU) No 806/2014 as a single financing arrangement for all the Member States participating in the Single Supervisory Mechanism (‘the SSM’) pursuant to Council Regulation (EU) No 1024/2013 (2) and in the Single Resolution Mechanism (‘the SRM’) (‘the participating Member States’). |
(2) |
Under Article 67(2) of Regulation (EU) No 806/2014, the Single Resolution Board (‘the Board’) established pursuant to that Regulation is entrusted with the administration of the Fund. |
(3) |
In accordance with Article 76 of Regulation (EU) No 806/2014, the Fund should be used in resolution procedures where the Board considers it necessary to ensure the effective application of the resolution tools. The Fund should have adequate financial resources to allow for an effective functioning of the resolution framework by being able to intervene, where necessary, for the effective application of the resolution tools and to protect financial stability without recourse to taxpayers' money. |
(4) |
The Board is empowered to calculate the individual ex ante contributions due from all of the institutions authorised in the territories of all of the participating Member States, under Article 70(2) of Regulation (EU) No 806/2014. |
(5) |
The Board should calculate the annual contributions to the Fund on the basis of a single target level established as a percentage of the amount of covered deposits of all of the credit institutions authorised in all of the participating Member States. In accordance with Article 69(1) of Regulation (EU) No 806/2014, the Board should ensure that the available financial means of the Fund reach at least the target level referred to in Article 69(1) of that Regulation, by the end of an initial period of eight years from 1 January 2016, or, otherwise, from the date on which Article 69(1) of Regulation (EU) No 806/2014 is applicable by virtue of Article 99(6) of that Regulation. |
(6) |
Contributions raised by the participating Member States in accordance with Articles 103 and 104 of Directive 2014/59/EU of the European Parliament and of the Council (3) and transferred to the Fund by virtue of Article 3(3) of the agreement on the transfer and mutualisation of contributions to the Single Resolution Fund as referred to in point (36) of Article 3(1) of Regulation (EU) No 806/2014 (‘the Agreement’) should be incorporated in the calculation of individual contributions and hence deducted from the amount due by each institution. That calculation should take into account that the amounts to be transferred by the Contracting Parties to the Agreement in accordance with Article 3(3) and (4) thereof should correspond to 10 % of the target level set out in Article 102(1) of Directive 2014/59/EU. The Board will ensure that the amounts to be transferred in accordance with the Agreement entail the same share of irrevocable payment... |
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