Regulatory Alerts2024-01-25
Added · Updated
CSSF Circular 24/851: Application of EBA Guidelines on Overall Recovery Capacity in Recovery Planning
The CSSF applies the European Banking Authority Guidelines on overall recovery capacity (ORC) in recovery planning to BRRD institutions incorporated under Luxembourg law, subsidiaries of EU parent undertakings, and EU parent undertakings for which the CSSF is the consolidating supervisor, provided they submit fully-fledged recovery plans. The circular excludes BRRD institutions submitting recovery plans under simplified obligations. These requirements apply with immediate effect, though institutions required to submit recovery plans by 1 March 2024 may contact the CSSF if they need an additional delay for compliance.
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