Regulatory Alerts2022-05-02
Added · Updated
CSSF Circular 22/808: Application of EBA Guidelines on Recovery Plan Indicators
The CSSF integrates the revised EBA Guidelines on recovery plan indicators into its administrative practice, requiring BRRD institutions submitting fully-fledged recovery plans to comply with the new standards. The revised guidelines amend the minimum list of indicators by adding MREL/TLAC, liquidity position, and available central-bank eligible unencumbered assets, while removing the cost of wholesale funding. Institutions must notify the CSSF of any indicator breaches within two business days, and thresholds for regulatory capital and liquidity indicators must generally be set sufficiently above regulatory requirements. The circular applies with immediate effect to BRRD institutions incorporated under Luxembourg law, subsidiaries of EU parent undertakings, and EU parent undertakings for which the CSSF is the consolidating supervisor.
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