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Werner F. Ebke, Christopher Seagon, Michael Blatz - Die Praxis der Unternehmensrestrukturierung und der Berufsstand des Insolvenzverwalters

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Werner F. Ebke (ed.), Christopher Seagon (ed.), Michael Blatz (ed.)

Die Praxis der Unternehmensrestrukturierung und der Berufsstand des Insolvenzverwalters

Series: Deutsches, Europäisches und Vergleichendes Wirtschaftsrecht

Volume 100 2017

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Alan Patterson Bank Recovery and Resolution in Light of Recent Regulatory Changes S. 75-88

„… Resolution Directive, the BRRD, which took effect from the 1st of January of 2016. Resolution is not new …” „… Europe we have embedded that in the BRRD. The FSB’s aim is really quite simple: to ensure that complex …” „… separation tool”. Something, actually, which exists really as result of the BRRD rather than the FSB’s work …”

Eva-Maria Weberling Neue Herausforderungen für die Praxis der Unternehmenrestrukturierung und den Berufsstand der Insolvenzverwalter S. 241-255

„… BRRD-Umsetzungsgesetz vom 10. 12. 2014 implementiert, siehe BGBl. 2014, Teil I Nr. 59, ausgegeben zu Bonn am 18. 12 …” „… Finanzinstituten erarbeitet, die als Vorlage für die europäische Bankenabwicklungsrichtlinie (BRRD) dienten.17 …” „… (SRM) in Umsetzung der BRRD uneingeschränkte Befugnisse übertragen bekommen.19 Insoweit wurden die …”

Abkürzungsverzeichnis S. 17-26

„… Bundesnotarordnung BORA Berufsordnung für Rechtsanwälte BRAO Bundesrechtsanwaltsordnung BRRD Bank Recovery and …”

doi.org/10.5771/9783845283869

Georgia Koutsoukou - Die Aufrechnung im europäischen Kollisions- und Verfahrensrecht

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Georgia Koutsoukou

Die Aufrechnung im europäischen Kollisions- und Verfahrensrecht

Series: Successful Dispute Resolution

Volume 8 2018

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Teil 3 Aufrechnung und Netting im europäischen Insolvenzrecht S. 263-352

„… Recht wider [vgl. Art. 2 I lit. n) Finanzsicherheiten-RL sowie Art. 2 Nr. 98 BRRD]. Systematischer …” „… Rahmens für die Sanierung und Abwicklung von Kreditinstituten und Wertpapierfirmen (BRRD).1136 Art. 2 Nr …” „… . 98 BRRD definiert den Begriff „close-out-Nettingvereinbarung“. Art. 76 II lit. c) und d) BRRD …”

Sachregister S. 569-574

„… netting 54 – settlement netting 53 Nettingvereinbarungen, insolvenzrechtliche Behandlung – BRRD 341 …”

Teil 5 Ausblick und Schlussfolgerungen S. 467-520

„… close-out-Vereinbarungen – zu systemischen Risiken führen können. Daran anschließend ließ die BRRD zu, die Durchsetzbarkeit …” „… Schließlich verfolgen die UNIDROIT-Prinzipien (Prinzip 8) sowie die BRRD einen vergleichbaren Ansatz zur …”

Summary S. 521-534

„… . Further, both the WUD and BRRD contain protective provisions relating to netting agreements in the context …”

Teil 1 Grundlegung der Aufrechnung S. 57-162

„… Banking Act 2009 sowie seine Änderungsakte,284 setzen die Richtlinie 2014/59/EU (BRRD)285 im englischen …”

doi.org/10.5771/9783845292748

Torsten Körber - Wettbewerbsbeschränkungen auf staatlich gelenkten Märkten

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Torsten Körber (ed.)

Wettbewerbsbeschränkungen auf staatlich gelenkten Märkten

Series: Kartell- und Regulierungsrecht

Volume 11 2015

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Daniel Zimmer, Thomas Weck, Nils-Peter Schepp Wiederherstellung des Wettbewerbs als Ordnungsprinzip auf den Finanzmärkten: Ist die »Bankenunion« ein taugliches Mittel hierzu? S. 73-102

„… (BRRD-Umsetzungsgesetz), BGBl. I S. 2091. 70 SSM-Verordnung = VO 1024/2013 zur Übertragung besonderer Aufgaben im …” „… Referentenentwurf zum BRRD-Umsetzungsgesetz, unter Bezugnahme auf den Referentenentwurf v. 9. 5. 2014. Daniel Zimmer …” „… . 2016 gelten; siehe Art. 99 Abs. 2 SRM-Verordnung. 75 Vgl. Art. 10 BRRD-Umsetzungsgesetz. 76 So ist die …”

doi.org/10.5771/9783845264653

Jens-Hinrich Binder, Christos V. Gortsos, Klaus Lackhoff, Christoph Ohler - European Banking Union

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Jens-Hinrich Binder (ed.), Christos V. Gortsos (ed.), Klaus Lackhoff (ed.), Christoph Ohler (ed.)

European Banking Union

2022

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Art. 5 SRMR Relation to Directive 2014/59/EU and applicable national law Jens-Hinrich Binder S. 483-497

„… the applicable nationallaws (i.e., national legislation transposing the BRRD).The article forms part …” „… ) inBRRD8Corresponding provi-sion(s) in SRMRRelevance of nationallaws transposing theBRRDPreventive …” „… ) inBRRD8Corresponding provi-sion(s) in SRMRRelevance of nationallaws transposing theBRRDResolution …”

Art. 17 SRMR Order of priority of claims Jens-Hinrich Binder S. 653-666

„… (2) BRRDCommon Equity Tier 1 (Art. 48(1)(a) BRRD)In line with the general principle that shareholders …” „… 663222324Additional Tier 1 instruments (Art. 48(1)(b) BRRD)Pursuant to Art. 48(1)(b) BRRD,‘if, and only if …” „… instruments (Art. 48(1)(c) BRRD)Pursuant to Art. 48(1)(c) BRRD‘if, and only if, the total reduction pursuant …”

Art. 24 SRMR Sale of business tool Jens-Hinrich Binder S. 741-754

„… under resolution pursuant to Art. 35 BRRD.In order to facilitate the coordination of the implementation …” „… ) SRMR in conjunction with Art. 38(1)(2) BRRD)Pursuant to Art. 38(1)(2) BRRD, referred to in Art. 24(2)(a …” „… pertaining to the Purchaser(Art. 24(2)(a) SRMR in conjunction with Art. 38(1), (7)-(9) BRRD)If and to the …”

Art. 25 SRMR Bridge Institution Tool Jens-Hinrich Binder S. 754-763

„… ) BRRD)Pursuant to Art. 24(2)(c) SRMR, the Resolution Scheme finally has to determinewhether the transfer powers …” „… (6) BRRD. Pursuant to Art. 38(5) BRRD,the transfer powers may be exercised “more than once in order …” „… Art. 40(3) BRRD).This requirement reflects the general objective that the Bridge Institution should …”

Art. 68 SRMR Requirement to establish resolution financing arrangements Christos V. Gortsos S. 1095-1097

„… group resolu-tion as referred to in Art. 107 BRRD.It is noted that the content of Arts. 101-107 and 109 …” „… supra, → para. 3.3 Art. 130(2) BRRD.Requirement to establish resolution financing arrangements Art. 68 …” „… . 103(1)-(4) and (6) and Arts. 104-109 BRRD.The available financial means to be taken into account in order to …”

Art. 13 SRMR Early intervention Christos V. Gortsos S. 608-619

„… material events. On Art. 27 BRRD,see also Freudenthaler, in: Understanding Bank Recovery and Resolution in …” „… its financialsoundness (Art. 29 BRRD);Third, specific rules apply to the coordination of early …” „… liabilities in accordance with Art. 27(1)(h)BRRD.25On Art. 104 CRD IV and its consistency with Art. 27 BRRDThe …”

Art. 27 SRMR Bail-in tool Christos Hadjiemmanuil S. 767-847

„… 25 (2014), 67; Michael Schillig, ‘BRRD/SRM, Corporate Insolvency Law and EU StateAid – the …” „… the BRRD.Bail-in tool Art. 27 SRMRChristos Hadjiemmanuil 78191011appropriate to make the bail-in tool …” „… into equity of20 Art. 27(1)(1)(a) SRMR.21 In BRRD/SRMR parlance, the expression “going concern” is used …”

Art. 15 SRMR General principles governing resolution Jens-Hinrich Binder S. 631-648

„… for Financial Institutions(2011/2014), Preamble.7 See, again, Recital 45 BRRD:‘In order to avoid moral …” „… ., in particular, Recitals 1, 5 and 67 BRRD:Recital 1 BRRD: ‘The financial crisis has shown that there …” „… conjunction with the national laws transposing Arts. 47, 48 and 108 BRRD(see, for details, infra, → Art. 17 …”

Art. 16 SRMR Resolution of financial institutions and parent undertakings Jens-Hinrich Binder S. 648-653

„… . Recitals 48 and 90 SRMR as well as Recitals 35 and 48 BRRD.Art. 16 SRMR Resolution of financial …” „… circumstances of each particular case. Asacknowledged in Recital 11 BRRD,‘[t]he crisis has demonstrated that the …” „… also for the purposes of Art. 16(1) SRMR. The same applies pursuant to Art. 33(1)BRRD.Parent …”

Art. 21 SRMR Write-down and conversion of capital instruments or eligible liabilities Andreas Witte S. 717-732

„… the BRRD.The scope of the WDCCI includes, amongst others, AT1 instruments. AT1 is, in ad-dition, also …” „… national transposition of the BRRD.II. RequirementsArt. 21(1) SRMR stipulates some procedural requirements …” „… , elaborate upon one of the cri-teria of Art. 21(3) SRMR. This structure mirrors that of Art. 59 BRRD.Art …”

Art. 94 SRMR Review Christos V. Gortsos S. 1209-1219

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161. Application of BRRD and SRMR …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38A. Introductory remarksArts. 129 BRRD and 94 SRMR require the Commission to review the …” „… In its introductory Section I, the Report states that the BRRD and the SRMR jointlyestablish the EU …”

Art. 9 SRMR Resolution plans drawn up by national resolution authorities Matthias Haentjens S. 534-537

„… identi-cal to Art. 12(5) BRRD. Presumably, this provision makes explicit that the resolutionplan should be …” „… Resolution in the EU: A Guidebook to the BRRD’(2016), BRRD>; World Bank Group …”

Art. 67 SRMR General provisions Christos V. Gortsos S. 1088-1095

„… group resolu-tion as referred to in Art. 107 BRRD.It is noted that the content of Arts. 101-107 and 109 …” „… supra, → para. 3.3 Art. 130(2) BRRD.Requirement to establish resolution financing arrangements Art. 68 …” „… ’ in: World Bank Group, Understanding Bank Recovery and Resolution in the EU: AGuidebook to the BRRD …”

Art. 26 SRMR Asset separation tool Jens-Hinrich Binder S. 763-767

„… laws trans-posing the BRRD.B. Substantive and procedural requirements pertaining to the …” „… Art. 42(1)-(5) and (8)-(13) BRRD.In addition to the restrictions discussed supra, → paras. 3-5, this …” „… . 42BRRD – lays down the framework for the application of the Asset Separation tool underthe auspices …”

Art. 10 SRMR Assessment of resolvability Matthias Haentjens S. 537-552

„… “individually or in anycombination” (Art. 63(1) caput BRRD).Under this Art. 10(3) SRMR’s ‘definition’ of …” „… BRRD does. Defini-tion 34 of Art. 2(1) BRRD refers to Art. 51(1) CRD IV, which says, in short, that it …” „… Guidebook to the BRRD’ (2016),

Art. 20 SRMR Valuation for the purposes of resolution Christos V. Gortsos S. 699-717

„… by virtue of Art. 36(14) BRRDBy virtue (inter alia) of Art. 36(14) BRRD and on the basis of RTSs …” „… Delegated Regulation adopted by virtue of Art. 36(15) BRRDBy virtue of Art. 36(15) BRRD, the Commission …” „… ) SRMR (which corresponds to Art. 36(10)-(11) BRRD)the following is also noted:First, the discretion …”

Art. 14 SRMR Resolution Objectives Jens-Hinrich Binder S. 619-631

„… Regulation is more in line with Art. 65 BRRD,pursuant to which resolution authorities are to be provided …” „… the BRRD/SRMR regime in systemic financialdistress, Binder, ZBB (2017), 57; id., in: Chiti and Santoro …” „… 21(10) SRMR, Arts. 48 and 49 BRRD),as well as on exemptions from bail-in (Art. 27(3) SRMR, Art. 44(3 …”

Art. 18 SRMR Resolution procedureThe information and views set out in this publication are those of the author and do not necessarily reflect the official opinion of the Commission. The Commission doe... S. 666-690

„… Federal Deposit Insurance Act.40 See Recital 5 BRRD.Art. 18 SRMR Resolution procedure676 Emiliano Tornese …” „… far and their regulatory framework mightrequire some streamlining as mentioned in the BRRD/SRMR Review …” „… . 2(1)(101) BRRD.48 See the BRRD/SRMR Review Report, p. 6.49 Art. 2(1)(8) BRRD.50 See Joined Cases T-98/16, T …”

Art. 29 SRMR Implementation of decisions under this Regulation Christos Hadjiemmanuil S. 854-881

„… netting arrangements.44The text does not include any reference to the BRRD’s provisions on the NRAs …” „… .83 Recital (88) and Art. 85(3) sent. 1 BRRD.Implementation of decisions under this Regulation Art …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19III. Procedural restrictions of national proceedings under the BRRD . . . . . . . . . . . . 23IV …”

Art. 8 SRMR Resolution plans drawn up by the Board Matthias Haentjens S. 518-534

„… SRMR.Re. (b): ‘resolution powers’ are not defined in the SRMR, but Chapter VI BRRD(Arts. 63-72 BRRD) is …” „… combination”(Art. 63(1) BRRD).III. Resolution action (Art. 8(6) SRMR)Second, pursuant to this para. 6, a …” „… of the BRRD pursuant to Art. 1(1)(d) BRRD.This para. 10 makes explicit that a resolution plan should …”

Art. 96 SRMR Replacement of national resolution financing arrangements Christos V. Gortsos S. 1222-1223

„… . 100 BRRD),the borrowing between these financing arrangements as specified in Art. 106 BRRD andthe …” „… . 127 BRRD16), the EBA established a “Resolution Committee”(ResCo). This permanent EBA internal …” „… relating to the tasks con-ferred on resolution authorities by the BRRD; it is composed of the Heads of the …”

Art. 1 SRMR Subject matter Jens-Hinrich Binder S. 453-461

„… replicate the corresponding provisions in the BRRD.The same applies with regard to the framework for early …” „… . . . . . . . . . . . . . . . . . . . . 15I. ‘Uniform rules and a uniform procedure’: SRMR and BRRD . . . . . . . . . . . . . . . . . 15II …” „… ‘uniform rules’ referred to in Art. 1(1) and 1(2) SRMR are,essentially, those first introduced by the BRRD …”

Art. 60 SRMR Part II of the budget on the Fund Andreas Witte S. 1035-1041

„… BRRD,transposes this mechanism for the SRB and provides that the Board shall take the deci-sion to request …” „… consistentwith the meaning of the word “investment” in general usage and with Art. 106(6) BRRD,according to which …” „… national transposing statutes of the BRRD, since the SRMR leaves thecollection of the contributions to the …”

Art. 79 SRMR Use of deposit guarantee schemes in the context of resolution Georgios Psaroudakis S. 1141-1148

„… complicat-ed) ways in the present provision read together with Art. 109 BRRD.Art. 109(1) BRRD starts with a …” „… the non-participating Member State, thereference of the present provision to Art. 107 BRRD (i.e., to a …” „… recalled that, accordingto the BRRD itself, the group-level resolution authority only makes a proposal, and …”

Art. 30 SRMR Obligation to cooperate and information exchange within the SRM Christos Hadjiemmanuil S. 881-895

„… . 83(4) BRRD.171 Art. 83(4)(d) BRRD.172 Art. 83(5) BRRD.Obligation to cooperate and information exchange …” „… architecture of the BankingUnion the BRRD’s requirement of close cooperation between national authorities …” „… the SRMR does not replicate any otherof the BRRD’s extensive provisions on intra-group financial …”

Art. 22 SRMR General principles of resolution tools Jens-Hinrich Binder S. 732-738

„… – in part, a verbatim adaptation of Art. 37 BRRD – defines, or pur-ports to define, ‘general principles …” „… ’ in Art. 15 SRMR. By con-trast, Art. 22(3) SRMR, the only subpara. without precedent in Art. 37 BRRD …” „… conjunction with Art. 48 BRRD (supra, → Art. 17paras. 20–28), as well as the principle that implementation of …”

Art. 32 SRMR Consultation of, and cooperation with, non-participating Member States and third countries Georgios PsaroudakisConsultation of, and cooperation with, non-participating Member States S. 918-921

„… F. Disapplication of BRRD rules on cross-border banking groups andresolution collegesThe BRRD …” „… rele-vant provisions of the BRRD.230The exclusion is limited to relations of a purely intra-SRM nature …” „… to be governedby the BRRD. The two-tiered structure of the SRM, however, raises the problem of …”

Art. 78 SRMR Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States Georgios PsaroudakisMutualisation of national fi... S. 1140-1141

„… from Art. 107(5) BRRD,which serves as the starting point unless otherwise agreed upon.The ultimate …” „… Art. 107(5) BRRD, the financing plan takes into account the locationof risk-weighted assets, of assets …” „… these criteria is not determined in theBRRD, while it is also possible that the financing plan deviates …”

Art. 11 SRMR Simplified obligations for certain institutions Matthias Haentjens S. 562-573

„… of the Annex to the BRRD.In short, ‘simplified obligations’ mean that a resolution plan still needs …” „… Bank Group, ‘Understanding Bank Recovery and Resolution in the EU: AGuidebook to the BRRD’ (2016 …” „… ), BRRD …”

Introduction to Arts. 67–74 SRMR Christos V. Gortsos S. 1079-1088

„… : WorldBank Group (ed), Understanding Bank Recovery and Resolution in the EU: A Guidebook to the BRRD(World …” „… : A Guidebook to the BRRD (World Bank Group, Finance & Markets, FinancialSector Advisory Center …” „… systemicallyimportant bank (“G-SIB”)”.13Resolution financing in the EU contextUnder the BRRD, a “European system of …”

Art. 12k SRMR Transitional and post-resolution arrangements Minimum Requirements S. 589-608

„… accordance withArts. 110 and 111 BRRD.F. Transitional Period (Art. 12k SRMR)Although SRMR II has entered …” „… Resolution in the EU: AGuidebook to the BRRD’ (2016); id., ‘Bank Resolution and “Bail-In” in the EU: Selected …” „… Case Studies Preand Post BRRD’ (2016).A. Introduction …”

Art. 33 SRMR Recognition and enforcement of third-country resolution proceedings Georgios Psaroudakis S. 921-927

„… correspondsto Arts. 94-95 BRRD.The present article is announced to be of subsidiary application, in the sense …” „… respective resolution objectives of the two sides. Lastly,this provision does not affect Art. 97(4)(2) BRRD …” „… the case. Interestingly, Art. 93(1-2) BRRD itself does not refer ex-plicitly to mutual recognition and …”

Art. 38 SRMR Fines Chryssa Papathanassiou S. 941-946

„… in order to impose penalties in line withArts. 110 to 114 BRRD and the national legal provisions …” „… transposing the above refer-enced BRRD provisos.3Art. 110(1) BRRD foresees that the administrative penalties …” „… impose the administrative sanctions enumer-ated in Art. 111 BRRD.1.2.2 Allegrezza and Rodopoulos, in …”

Art. 93 SRMR Exercise of the delegation Christos V. Gortsos S. 1206-1209

„… legis-lative acts which constitute the sources of EU banking law (inter alia, in the BRRD).3Nevertheless …” „… in the CRR (Art. 462 CRR), the CRD IV (Art. 148 CRD IV), the BRRD (Art. 115 BRRD) andthe DGSD (Art …” „… nevertheless in thiscase of Art. 115 BRRD, since these acts are adopted on the basis Art. 103(7) BRRD …”

Art. 31 SRMR Cooperation within the SRM Christos Hadjiemmanuil S. 895-918

„… of the BRRD,which governs the actual implementation of resolution actions in each participatingMember …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49F. Disapplication of BRRD rules on cross-border banking groups andresolution colleges …” „… disapplies, in so far as the BU’s resolu-tion authorities are concerned, certain provisions of the BRRD on …”

Art. 97 SRMR Headquarters Agreement and operating conditions Christos V. Gortsos S. 1223-1224

„… ) financing arrangements (established in accordance with Art. 100 BRRD),the borrowing between these financing …” „… tion) financing arrangements”, as defined in Art. 99 BRRD and consisting of the national(resolution …” „… arrangements as specified in Art. 106 BRRD andthe mutualisation of these financing arrangements in the case of …”

Art. 6 SRMR General Principles Jens-Hinrich Binder S. 497-506

„… financialsupport), 30(6)-(8) (early intervention measures), and 45h(1) and (4) (determination of MREL) BRRD.General …” „… of Regulation (EU) No. 1093/2010, where theBRRD provides for such decisions. Art. 19 of that …” „… regulationgenerally. This mechanism is referred to in a number of provisions of the BRRD.18Art. 6 SRMRGeneral …”

Art. 70 SRMR Ex-ante contributions Christos V. Gortsos S. 1100-1109

„… competent authorities andavailable in accordance with Art. 90 BRRD.Risk pillars and indicators: the …” „… ” based on the criteria laiddown in Art. 103(7) BRRD, under consideration of the “proportionality …” „… above-mentioned) Art. 103(7) BRRD, the Commission adoptedDelegated Regulation (EU) 2015/63 of 21 October 2014 …”

Art. 59 SRMR Part I of the budget on the administration of the Board Andreas Witte S. 1030-1035

„… . Art. 3 BRRD thus left it to nationallegislators to designate a national resolution authority and let …” „… it apply the BRRD, in theform of its national transposing legislation, within the framework of …” „… SRMR, which is grafted upon the BRRD and its national transpositions, incorpo-rates this concept and …”

Art. 77 SRMR Use of the Fund Georgios Psaroudakis S. 1136-1140

„… from Art. 107(5) BRRD,which serves as the starting point unless otherwise agreed upon.The ultimate …” „… ; Binder, ‘The position of creditors under theBRRD’ in: Commemorative Volume for Leonidas Georgakopoulos …” „… arrangementalready in place and regulates its use, insofar following the BRRD. It has been rightlyremarked that a …”

Art. 39 SRMR Periodic penalty payments Chryssa Papathanassiou S. 946-947

„… Art. 111 BRRD foresees the breaches for which the Member States should introduceadministrative …” „… disgorgement up todouble the benefit gained if such a benefit can be determined.Art. 112 BRRD foresees the …” „… . Art. 113 BRRD foresees that the na-tional authorities inform the EBA of all breaches and that the EBA …”

Art. 95 SRMR Amendment to Regulation (EU) No 1093/2010 Christos V. Gortsos S. 1219-1222

„… of the EBAR by Art. 95 SRMR were to the following effect:With regard to the BRRD and the SRMR, the …” „… EBAR and pursuant to Art. 127 BRRD16), the EBA established a “Resolution Committee”(ResCo). This …” „… . 44 EBAR in matters relating to the tasks con-ferred on resolution authorities by the BRRD; it is …”

Art. 28 SRMR Monitoring by the Board Christos Hadjiemmanuil S. 847-854

„… plans, EBA/GL/2015/21 (2015). Adopted on the basis ofArt. 52(13) BRRD, these guidelines are addressed to …” „… transposing the BRRD.4 This system of indirect execution, whichis regulated by Art. 29 SRMR,5 raises an …” „… resolution scheme, includ-ing any potential infringement of the safeguards provided for in the BRRD16; and(g …”

Art. 72 SRMR Voluntary borrowing between resolution financing arrangements Christos V. Gortsos S. 1112-1114

„… must be made in accordance with Art. 106(3) BRRD.2Accordingly, each of the financing arrangements in …” „… conditions are subject to Art. 106(4)-(6) BRRD,3 which provides forthe following:First, the rate of interest …” „… request is made in accordance with Art. 106 BRRD, the Board may also decide tolend to resolution financing …”

Art. 19 SRMR State aid and Fund aid Seraina Neva Grünewald and Christos V. Gortsos S. 690-699

„… accordance with the BRRD.117 In addition, where State aid or SRFaid is present, the resolution scheme must be …” „… pursuant to Art. 108(4) orArt. 109 TFEU (Art. 2(1)(53) BRRD). On the use of asset management companies …” „… payouts andmeasures according to Art. 109 BRRD.9 This notion was called into question with therecent …”

Art. 76 SRMR Mission of the Fund Georgios Psaroudakis S. 1129-1136

„… ’, ZHR 2015, 83; Jens-Hinrich, Binder, ‘The positionof creditors under the BRRD’ in: Bank of Greece’s …” „… seen in the light of Art. 40(2)(a) andArt. 42(2)(a) of Directive 2014/59/EU (BRRD), according to which …” „… Fund1132 Georgios Psaroudakis4567cial terms”, as per Art. 38(2) BRRD for the purchase, if such …”

Art. 99 SRMR Entry into force Christos V. Gortsos S. 1226-1254

„… – of Member States II 59 7 et seq.Bank Recovery and Resolution Directive (BRRD)– BRRD/SRMR Review …” „… . 99-109 BRRD.3 The SRMR is binding inits entirety and directly applicable in all Member States.4(2 …” „… institutions laid down in the BRRD by a single EU resolution author-ity in the participating Member States …”

Art. 4 SRMR Participating Member States Christoph Ohler S. 479-483

„… and, accordingly, the need to resolve banks at all.In addition, the SRMR stresses that the BRRD …” „… compartments’. These will gradually be mutualised (or9 Cf. Recital 11 SRMR.10 Cf. Arts. 88 to 92 BRRD.11 Cf …” „… permit the funding of a Member State’s national financial arrange-ment in accordance with BRRD …”

Art. 7 SRMR Division of tasks within the SRMThe views expressed by the author are strictly personal and do not engage the Single Resolution Board or the European Commission or its services in any way.... S. 506-518

„… general rule, NRAs apply the national rules transposing Directive 2014/59/EU(“the BRRD”) when acting in …” „… fall within the scope of the BRRD, butwhich do not fall within the scope of the SRMR. This is the case …” „… national rules transposing the BRRD. Art. 7(3)(4) SRMR lists the specific pro-vision of the SRMR and …”

Art. 16 SSMR Supervisory powers Christos V. Gortsos S. 235-251

„… and 27 BRRD, respectively.10Accordingly, and for the sake of preciseness, the supervisory powers of …” „… the early intervention measures of the ECB in accor-dance with Art. 27 BRRD; on this, see infra …” „… triggering the application ofearly intervention measures under the BRRD.32B. The supervisory powers (Art …”

Art. 2 SSMR Definitions Christos V. Gortsos S. 13-23

„… and investment firms (...)”4 (BRRD), whichconstitutes the single market element for the preparation …” „… the BRDD by Directive (EU) 2019/879 (BRRD II).6 The rules ofthe CRR II apply, in principle, from 28 …” „… BRRD II, inprinciple again, from 28/29 December 2020.Furthermore, some of their Arts. (including on …”

Art. 14 SSMR Authorisation Elke Gurlit S. 189-215

„… as provided for in Art. 41(1)(2) BRRD.II. Submission of application to an NCA (Art. 14(1 …” „… ) BRRD and the national law transposing theBRRD.46 A preliminary and limited waiver from compliance with …” „… of the BRRD requiring a close cooperation of the NCAand the NRA especially if there is a …”

Art. 88 SRMR Professional secrecy and exchange of information Christos V. Gortsos S. 1187-1190

„… provision of information insummary or collective form for the purposes of Article 84(3) [BRRD]”, EBA/GL …” „… at:brrd>).7 Art. 88(1)(1) sent. 2 SRMR.Art. 88 SRMR Professional secrecy and exchange of information1188 …”

Art. 23 SRMR Resolution SchemeThe information and views set out in this publication are those of the author and do not necessarily reflect the official opinion of the Commission. The Commission does n... S. 738-741

„… special manager for theinstitution under resolution pursuant to Art. 35 BRRD.In order to facilitate the …” „… accordance with the relevant provisions of BRRD as transposed in-to national law. As the implementation of …”

Art. 3 SRMR Definitions Christos V. Gortsos S. 463-479

„… , applicable are the definitions referred to in Art. 2 BRRD; and in the absence of arelevant definition therein …” „… designated by a par-ticipating Member State in accordance with Art. 3(1)-(3) BRRD. This provides that …” „… resolutiontool;50 or the exercise of one or more resolution powers (as laid down in Arts. 63-72BRRD).37 Art. 92(1 …”

Art. 4 SSMR Tasks conferred on the ECB Klaus Lackhoff and Andreas Witte S. 37-85

„… theBRRD/SRMR provide for an exemption from the qualifying holding rules, such an as-sessment has to be carried …” „… institution to submit a revisedplan by making use of the power of Art. 6(5) BRRD as implemented in national …” „… those measures provided for in Arts. 27 to 30 BRRD. They are only “early”in relation to a resolution …”

Titelei/Inhaltsverzeichnis

„… (BRRD), which constitute the largest partof the single market component of the European banking …” „… theBanking Union, EDIS and ESM backstop. He has been involved with the preparationand negotiation of the BRRD …” „… Journal of International Banking and Finance LawBRRD Bank Recovery and Resolution Directive (Directive …”

Art. 10a SRMR Power to Prohibit Certain DistributionsAs amended by Art. 1(5) SRMR II. Matthias Haentjens S. 552-562

„… resolution authority (as such own responsibil-ity for NRAs already follows from the relevant BRRD provisions …” „… (more specifically:Art. 17(5) BRRD)), but to make explicit that the NRAs should immediately carry out …” „… a BRRD. In short, it introduces the concept of a Maxi-mum Distributable Amount related to the MREL …”

Art. 34 SRMR Requests for information Klaus Lackhoff and Mikulas Prokop S. 927-932

„… reflect the BRRD requirementthat “resolution authorities and competent authorities shall have all …” „… case the SRB takes a resolu-6 Which is envisaged as an early intervention measure, Art. 27(1)(h) BRRD.7 …”

Art. 15 SSMR Assessment of acquisitions of qualifying holdings Elke Gurlit S. 215-235

„… these cases by the BRRD,31 which provides for specific ar-rangements if the use of resolution …” „… See Art. 38(8) and (9) BRRD for the application of the business tool, Art. 47(4) und (5) BRRD for …” „… theapplication of the bail-in instrument. Art. 63(1)(m) BRRD requires the Member States to provide for …”

Art. 61 SRMR Establishment and implementation of the budget Andreas Witte S. 1041-1047

„… in the exer-cise of their powers under the national transpositions of the BRRD.6 Such NRA mea-sures …” „… Union budget (Art. 314 TFEU).5 Case 25/62, Plaumann v Commission, ECLI:EU:C:1963:17.6 Art. 7(3)(3) BRRD …”

Art. 73 SRMR Alternative funding means Christos V. Gortsos S. 1114-1115

„… proposal was made by the Commission in its Report of 30 April 2019 on the appli-cation of the BRRD and the …”

Art. 74 SRMR Access to financial facility Christos V. Gortsos S. 1115-1123

„… proposal was made by the Commission in its Report of 30 April 2019 on the appli-cation of the BRRD and the …” „… legislative“banking package” of 23 November 2016 concerning the amendment of several aspectsof the BRRD, the SRMR, the …”

Art. 43 SRMR Composition Christoph Ohler S. 953-955

„… the BRRD. Due to this specific mandate, however, the Board’sinternational legal personality is of …”

Art. 42 SRMR Legal status Christoph Ohler S. 950-953

„… Art. 32 SRMR and therespective provisions of the BRRD. Due to this specific mandate, however, the …”

Art. 69 SRMR Target level Christos V. Gortsos S. 1097-1100

„… with the BRRD. To (the best of) the author’s knowledge, as ofMarch 2020, such an assessment, even if …”

Art. 18 SSMR Administrative penaltiesThe views expressed in this article are those of the author and do not necessarily reflect the views of the ECB. Chryssa Papathanassiou S. 264-277

„… transposing UnionDirectives such as the CRD IV, the BRRD, FICOD in line with Art. 4(3)(1) SSMR. In ad-3 …” „… , or a regulation adopted by the ECB22. The provisions of the CRD IV andBRRD do not qualify as directly …”

Art. 27 SSMR Professional secrecy and exchange of informationThis commentary is written in the private capacity of the author and should not be reported as representing the views of the ECB. The autho... S. 381-404

„… secrecy requirements in the field of recovery planning and resolution as laiddown in the BRRD.26 Cf. ECB …” „… BRRD with respect to recovery andresolution matters. In the following, the focus will be on the most …” „… concept in EU law, which isnot only enshrined in Art. 84(3) BRRD, but also reflected in the EU legal …”

Art. 83 SRMR Staff exchange Christos V. Gortsos S. 1156-1162

„… Delegated Regulation 2016/778 of2 February 2016 “supplementing [the BRRD] (…) on the criteria for the …”

Art. 86 SRMR Actions before the Court of Justice Ann-Kathrin Kaufhold S. 1173-1178

„… BRRD andthe restrictions for the right to appeal provided for therein.C. Art. 86(2) SRMR: Possible …”

Art. 57 SRMR Resources Andreas Witte S. 1016-1023

„… surrounding the adoptionfirst of the BRRD and then of the SRMR. When the resolution regime was developed,some …”

Art. 9 SSMR Supervisory and investigatory powersThis contribution should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the author and d... S. 146-158

„… the BRRD52, in particular the power to take early intervention measures.In addition to powers set out …”

Art. 32 SSMR Review Christos V. Gortsos S. 428-445

„… with the BRRD and SRMR) is the first resolution for resolution.The way the power is exercised should be …”

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Die Unternehmung

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DU Volume 68 (2014) Issue 2 ISSN Online: 2942-318X

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Bernd Rudolph Bankregulierung zur Lösung des „too big to fail“-Problems S. 72-91

„… Abwicklungsrichtlinie (Bank Recovery and Resolution Directive BRRD) und im Euroraum die Einigung auf einen einheitlichen …” „… Recovery and Resolution Directive BRRD). Die Zielsetzung einheitlicher Vorschriften zur Sanierung oder …” „… der BRRD und dem SRM stellen die ab dem 4. November 2014 von der EZB übernommenen aufsichtlichen …”

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