Regulatory AlertsFinansinspektionen’s regulations regarding recovery plans, group recovery plans and intra-group financial support agreements
Finansinspektionen issued regulations requiring banks, credit market companies, and securities companies to include specific content in their recovery plans and establish intra-group financial support agreements. These rules implement the Bank Recovery and Resolution Directive and replace previous regulations, entering into force on 1 February 2016. Subsequent amendments introduced simplified obligations for smaller systemically important undertakings and granted the regulator authority to exempt entities from certain requirements, effective 15 July 2016.
Finansinspektionen’s regulations regarding recovery plans, group recovery plans and intra-group financial support agreements
In force from 2016-02-01
Summary
Finansinspektionen decides on new regulations describing what banks, credit market companies and securities companies shall include in their recovery plans and introduces a regulation on Group-internal agreements for financial support. The regulations implement provisions in the Bank Recovery and Resolution Directive and supplement acts and ordinances.
Finansinspektionen also repeals the current regulations regarding recovery plans for these undertakings.
The new regulations enter into force on 1 February 2016.
Amendments
The objective of the amendments are to introduce specially adapted requirements (so-called simplified obligations) on what must be included in smaller systemically important undertakings' recovery plans and group recovery plans. Under the amendments, FI is given the opportunity to grant undertakings exemptions on what must be included in a recovery plan or group recovery plan.
The decision enters into force on 15 July 2016. Amendment 2016:20
Documents
FFFS 2016:6
Changes
Number
FFFS 2016:20
Date
2016-07-15
Heading
FFFS 2016:20