Regulatory Alerts2021-10-26
Order on Resolution Planning and Resolution Readiness
The Danish Financial Supervisory Authority and the Ministry of Industry, Business and Financial Affairs issued this Order to implement the EU Bank Recovery and Resolution Directive (BRRD) and BRRD II into Danish law. It mandates that credit institutions, real estate credit institutions, investment firms, and holding companies maintain detailed resolution plans and robust operational readiness, including the ability to produce specific balance sheets and liability registers within strict timeframes upon request by the Danish Financial Stability Council. The regulation establishes strict requirements for data systems, critical contract management, and annual auditor verification to ensure effective resolution or orderly insolvency.
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