Regulatory Alerts2023-11-30
Circular CSSF-CODERES 23/18: Application of EBA Resolvability, Transferability, and Resolvability Testing Guidelines
The CSSF and CODERES issued Circular 23/18 to implement three European Banking Authority guidelines on resolvability, transferability, and resolvability testing for Luxembourg institutions using resolution tools. The circular requires in-scope entities to take resolution tool-specific actions to improve their resolvability and remove impediments to their preferred resolution strategies. It mandates self-assessment reports and establishes a multi-annual testing programme, with the circular applying as of 1 January 2024.
Share