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Article 72 - Voluntary borrowing between resolution financing arrangements

Comparing 19/08/2014 → 28/12/2020: 0 added, 0 removed, 6 changed Close comparison

1. 1. The Board shall decide to make a request to voluntarily borrow for the Fund from resolution financing arrangements within non-participating Member States, in the event that:

(a)((a)) the amounts raised under Article 70 are not sufficient to cover the losses, costs or other expenses incurred by the use of the Fund in relation to resolution actions;

(b)((b)) the extraordinaryex-postcontributionsextraordinary ex-post contributions provided for in Article 71 are not immediately accessible; and

(c)((c)) the alternative funding means provided for in Article 73 are not immediately accessible on reasonable terms.

2. 2. Those resolution financing arrangements shall decide on such a request in accordance with Article 106 of Directive 2014/59/EU. The borrowing conditions shall be subject to Article 106(4), (5) and (6) of Directive 2014/59/EU.

3. 3. The Board may decide to lend to other resolution financing arrangements within non-participating Member States if a request is made in accordance with Article 106 of Directive 2014/59/EU. The lending conditions shall be subject to Article 106(4), (5) and (6) of Directive 2014/59/EU.

Official text · consolidated version 28/12/2020 (no longer in force) Open full page ↗
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