EU delegated and implementing acts

Find out more about the delegated and implementing acts the European Commission has adopted in relation to the RRD.

Delegated acts, which may contain regulatory technical standards (RTS) developed by the EBA, typically provide more detail on a certain aspect of the primary legislation. For example, they may specify criteria to be taken into account when making assessments or detailing information requirements.

Implementing acts, which may contain implementing technical standards (ITS) developed by the EBA, usually detail how certain information is to be provided by firms to competent authorities or by competent authorities to the EBA. They frequently consist of formats, templates and procedures.

Adopted delegated and implementing acts

To date, the European Commission has adopted the following delegated and implementing acts in relation to the RRD:

Ex ante contributions to resolution financing arrangements

Delegated Regulation on ex ante contributions to resolution financing arrangements

This Delegated Regulation determines the amount individual firms will have to pay each year to their respective national resolution funds. The fixed part of the contribution is based on the size of the firm. The basic contribution is then adjusted in accordance with the risk profile of the individual firm. The principle of proportionality is applied by providing for a special lump sum regime for small firms.

  • Annex I details the procedure for the calculation of the annual contributions.
  • Annex II contains a list of data to be submitted to the resolution authorities.

In its consultation on the transposition of the RRD published in July 2014, the Treasury set out its intention to use the existing UK bank levy to meet the ex ante resolution financing requirements of the RRD, thereby avoiding imposing any additional upfront cost on UK firms.

Delegated and implementing acts under development

EBA has the following RTS and ITS under development, which will be later adopted into delegated and implementing acts by the European Commission. See below for more information - absence of a link suggests that no consultation has started for that specific RTS/ITS.

Subject

Type of act

Article of RRD

EBA Consultation Paper

EBA consultation end date

Content of recovery plans

delegated act with RTS

5(10)

EBA/CP/2013/01

11.06.2013

Assessment of recovery plans

delegated act with RTS

6(8)

EBA/CP/2013/08

20.08.2013

Content of resolution plans and assessment of resolvability

delegated act with RTS

10(9), 12(6), 15(4)

EBA/CP/2014/16

09.10.2014

Independent valuers

delegated act with RTS

36(14)

EBA/CP/2014/18

11.10.2014

Formats, templates and definitions for identification and transmission of information on simplified obligations by competent authorities and resolution authorities to EBA

implementing act with ITS

4(11)

EBA/CP/2014/26

03.01.2015

Conditions for group financial support

delegated act with RTS

23(2)

EBA/CP/2014/30

04.01.2015

Form and content of the description of group financial support agreements

implementing act with ITS

26(2)

EBA/CP/2014/30

04.01.2015

Contractual recognition of write-down and conversion powers

delegated act with RTS

55(3)

EBA/CP/2014/33

05.02.2015

Valuation for the purposes of resolution

delegated act with RTS

36(15), 74(4)

EBA/CP/2014/38

06.02.2015

Criteria for determining the minimum requirement for own funds and eligible liabilities (MREL)

delegated act with RTS

45(2)

EBA/CP/2014/41

27.02.2015

Operational functioning of resolution colleges

delegated act with RTS

88(7)

EBA/CP/2014/46

18.03.2015

Notifications of failing or likely to fail and notice of suspension

delegated act with RTS

82(3)

EBA/CP/2014/47

20.03.2015

Procedures and templates with which resolution information is to be provided to resolution authorities

implementing act with ITS

11(3)

EBA/CP/2015/01

14.04.2015

Information to be contained in detailed records of financial contracts and circumstances in which requirement to maintain such contracts should be imposed.

delegated act with RTS

71(8)

EBA/CP/2015/04

06.06.2015

Minimum elements to be included in a business re-organisation plan and on the minimum content of the implementation reports

delegated act with RTS

52(12)

EBA/CP/2015/05

09.06.2015

Methodologies and principles on valuation of liabilities arising from derivatives

delegated act with RTS

49(5)

EBA/CP/2015/10

13.08.2015

Criteria for determining the definitions of ‘critical functions’ and ‘core business lines’

delegated act

2(2)

 

 

Application of simplified obligations

delegated act with RTS

4(6)

 

 

Minimum set of triggers for use of early intervention measures

delegated act with RTS (at EBA’s discretion)

27(5)

 

 

Circumstances in which exclusion of certain liabilities from the bail-in tool is necessary

delegated act

44(11)

 

 

Formats, templates and definitions for identification and transmission of information on MREL by resolution authorities to EBA

implementing act with ITS

45(17)

 

 

Further specification of minimum criteria a business re-organisation plan must fulfil to be approved by the resolution authority

delegated act with RTS (at EBA’s discretion)

52(14)

 

 

Protection of counterparties in partial transfers

delegated act

76(4)

 

 

Conditions for deferral of payment of extraordinary ex-post contributions

delegated act

104(4)