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Finansinspektionen’s regulations regarding recovery plans, group recovery plans and intra-group financial support agreements
Finansinspektionen issued regulations requiring banks, credit market companies, and securities companies to include specific content in their recovery plans and establish intra-group financial support agreements. These rules implement the Bank Recovery and Resolution Directive and replace previous regulations, entering into force on 1 February 2016. Subsequent amendments introduced simplified obligations for smaller systemically important undertakings and granted the regulator authority to exempt entities from certain requirements, effective 15 July 2016.
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Finansinspektionen’s regulations regarding recovery plans, group recovery plans and intra-group financial support agreements


In force from 2016-02-01


Summary


Finansinspektionen decides on new regulations describing what banks, credit market companies and securities companies shall include in their recovery plans and introduces a regulation on Group-internal agreements for financial support. The regulations implement provisions in the Bank Recovery and Resolution Directive and supplement acts and ordinances.


Finansinspektionen also repeals the current regulations regarding recovery plans for these undertakings.


The new regulations enter into force on 1 February 2016.


Amendments


The objective of the amendments are to introduce specially adapted requirements (so-called simplified obligations) on what must be included in smaller systemically important undertakings' recovery plans and group recovery plans. Under the amendments, FI is given the opportunity to grant undertakings exemptions on what must be included in a recovery plan or group recovery plan.


The decision enters into force on 15 July 2016. Amendment 2016:20


Documents


FFFS 2016:6


Changes


Number


FFFS 2016:20


Date


2016-07-15


Heading


FFFS 2016:20
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Lineage: Amended
Directive 2014/59/EU of the Eur…2014Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council  Text with EEA relevance (2014-05-15)FFFS Regulation No. 20 dated 20…FFFS Regulation No. 20 dated 2016-07-15Finansinspektionen’sregulations regarding recover…this documentFinansinspektionen’s regulations regarding recovery plans, group recovery plans and intra-group financial support agreementsRegulations amending Finansinsp…2016Regulations amending Finansinspektionen’s regulations regarding recovery plans and intra-group financial support agreements (2016-09-02)
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Timeline
Amended 1 time · last 2016-09-02
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Source: Finansinspektionen — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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