Implementing regulation 2016/962 - Implementing technical standards with regard to the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the European Banking Authority according to Directive 2014/59/EU - Main contents
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Commission Implementing Regulation (EU) 2016/962 of 16 June 2016 laying down implementing technical standards with regard to the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the European Banking Authority according to Directive 2014/59/EU of the European Parliament and of the Council| Legal instrument | Implementing regulation |
|---|---|
| Number legal act | Implementing regulation 2016/962 |
| CELEX number i | 32016R0962 |
| Document | 16-06-2016; Date of adoption |
|---|---|
| Publication in Official Journal | 17-06-2016; OJ L 160 p. 35-49 |
| Effect | 07-07-2016; Entry into force Date pub. +20 See Art 5 |
| Deadline | 06-08-2016; See Art 4.1 01-06-2017; See Art 4.2 |
| End of validity | 31-12-9999 |
17.6.2016 |
EN |
Official Journal of the European Union |
L 160/35 |
COMMISSION IMPLEMENTING REGULATION (EU) 2016/962
of 16 June 2016
laying down implementing technical standards with regard to the uniform formats, templates and definitions for the identification and transmission of information by competent authorities and resolution authorities to the European Banking Authority according to Directive 2014/59/EU of the European Parliament and of the Council
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Directive 2014/59/EU of 15 May 2014 of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012 of the European Parliament and of the Council (1), and in particular Article 4(11) thereof,
Whereas:
(1) |
Article 4(1) of Directive 2014/59/EU provides that simplified obligations may be applied to an institution where, having regard to the criteria referred to therein, and Guidelines prepared by the European Banking Authority (EBA) under Article 4(5) of that Directive, the competent authorities and resolution authorities determine that the institution's failure and subsequent winding-up under normal insolvency proceedings would not be likely to have a significant negative effect on financial markets, on other institutions, on funding conditions, or on the wider economy. |
(2) |
Subject to Article 4(9) and (10) of Directive 2014/59/EU, Article 4(8) requires Member States to ensure that competent authorities and resolution authorities may waive the application of the requirements of Sections 2 and 3 of Chapter 1 of Title II of that Directive to institutions affiliated to a central body and wholly or partially exempted from prudential requirements in national law in accordance with Article 10 of Regulation (EU) No 575/2013 of the European Parliament and of the Council (2). Article 4(8) of Directive 2014/59/EU also requires Member States to ensure that competent authorities and resolution authorities waive the application of the requirements of Section 2 of Chapter 1 of Title II of that Directive to institutions which are members of an institutional protection scheme (IPS). In particular, Article 4(10) of Directive 2014/59/EU specifies that institutions subject to direct supervision by the European Central Bank pursuant to Article 6(4) of Council Regulation (EU) No 1024/2013 (3) or those institutions, according to criteria referred to thereof, constitute a significant share in the financial system of a Member State are required to draw up their own recovery plans in accordance with Section 2 of Chapter 1 of Title II of Directive 2014/59/EU and must be the subject of individual resolution plans in accordance with Section 3 of that Chapter. |
(3) |
Article 4(7) of Directive 2014/59/EU requires competent authorities and resolution authorities to inform the EBA of the way they have applied Article 4(1), (8), (9) and (10) of that Directive to institutions in their jurisdiction. This Regulation should provide templates for the submission of information relating to Article 4(1) and 4(8) of Directive 2014/59/EU which can be completed, as appropriate, on an institution-specific or category basis in accordance with the practices adopted by the competent authorities and resolution authorities when assessing institutions sharing similar characteristics having regard to the criteria referred to in Article 4(1) of that Directive. |
(4) |
This Regulation is based on the draft implementing standards submitted by the EBA to the... |
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