Regulatory Alerts2019-07-01
Implementation of the European Banking Authority Recommendation on the Coverage of Entities within a Group Recovery Plan (EBA/REC/2017/02)
The Prudential Control and Resolution Authority (ACPR) has declared conformity with the European Banking Authority Recommendation EBA/REC/2017/02 regarding the coverage of entities within a group recovery plan. This recommendation is annexed to the ACPR's opinion and becomes applicable to credit institutions supervised by the ACPR starting from June 30, 2019. These institutions are required to take all necessary measures to comply with the recommendation in accordance with Article 16 of Regulation (EU) No 1093/2010.
OPINION Implementation of the European Banking Authority Recommendation on the Coverage of Entities within a Group Recovery Plan (EBA/REC/2017/02) The Prudential Control and Resolution Authority (ACPR) has declared conformity with the recommendation of the European Banking Authority (EBA/REC/2017/02) regarding the coverage of entities within a group recovery plan. This recommendation is annexed to the present opinion. This recommendation is applicable as of June 30, 2019, by credit institutions subject to the supervision of the ACPR, which must take all measures to comply with it, in accordance with the provisions of Article 16 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority).