What changes on 28/12/2020

The text in force from 19/08/2014 compared with the text from 28/12/2020, which includes the changes made by Regulation (EU) 2019/877.

Read the act as of 28/12/2020 · other versions: 26/06/2021 · 12/08/2022 · 13/05/2024 · 14/11/2024 · 10/11/2025 · 11/06/2026

Part I

• amended Article 2 - Scope
• amended Article 3 - Definitions
• amended Article 4 - Participating Member States
• amended Article 5 - Relation to Directive 2014/59/EU and applicable national law
• amended Article 6 - General principles
• amended Article 7 - Division of tasks within the SRM

Part II › Title I › Chapter 1

• inserted Article 10a - Power to prohibit certain distributions
• inserted Article 12a - Application and calculation of the minimum requirement for own funds and eligible liabilities
• inserted Article 12b - Exemption from the minimum requirement for own funds and eligible liabilities
• inserted Article 12c - Eligible liabilities for resolution entities
• inserted Article 12d - Determination of the minimum requirement for own funds and eligible liabilities
• inserted Article 12e - Determination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs and Union material subsidiaries of non-EU G-SIIs
• inserted Article 12f - Application of the minimum requirement for own funds and eligible liabilities to resolution entities
• inserted Article 12g - Application of the minimum requirement for own funds and eligible liabilities to entities that are not themselves resolution entities
• inserted Article 12h - Waiver of the minimum requirement for own funds and eligible liabilities applied to entities that are not themselves resolution entities
• inserted Article 12i - Waiver for a central body and credit institutions permanently affiliated to a central body
• inserted Article 12j - Breaches of the minimum requirement for own funds and eligible liabilities
• inserted Article 12k - Transitional and post-resolution arrangements
• amended Article 8 - Resolution plans drawn up by the Board
• amended Article 9 - Resolution plans drawn up by national resolution authorities
• amended Article 10 - Assessment of resolvability
• amended Article 11 - Simplified obligations for certain institutions
• amended Article 12 - Minimum requirement for own funds and eligible liabilities

Part II › Title I › Chapter 2

• amended Article 13 - Early intervention

Part II › Title I › Chapter 3

• amended Article 14 - Resolution objectives
• amended Article 15 - General principles governing resolution
• amended Article 16 - Resolution of financial institutions and parent undertakings
• amended Article 17 - Order of priority of claims
• amended Article 18 - Resolution procedure
• amended Article 19 - State aid and Fund aid
• amended Article 20 - Valuation for the purposes of resolution
• amended Article 21 - Write-down or conversion of capital instruments and eligible liabilities
• amended Article 22 - General principles of resolution tools
• amended Article 24 - Sale of business tool
• amended Article 25 - Bridge institution tool
• amended Article 26 - Asset separation tool
• amended Article 27 - Bail-in tool
• amended Article 28 - Monitoring by the Board
• amended Article 29 - Implementation of decisions under this Regulation

Part II › Title I › Chapter 4

• amended Article 30 - Obligation to cooperate and information exchange within the SRM
• amended Article 31 - Cooperation within the SRM
• amended Article 32 - Consultation of, and cooperation with, non-participating Member States and third countries
• amended Article 33 - Recognition and enforcement of third-country resolution proceedings

Part II › Title I › Chapter 5

• amended Article 34 - Requests for information
• amended Article 35 - General investigations
• amended Article 36 - On-site inspections
• amended Article 37 - Authorisation by a judicial authority

Part II › Title I › Chapter 6

• amended Article 38 - Fines
• amended Article 39 - Periodic penalty payments
• amended Article 40 - Hearing of the persons subject to the proceedings
• amended Article 41 - Disclosure, nature, enforcement and allocation of fines and periodic penalty payments

Part III › Title I

• amended Article 42 - Legal status
• amended Article 43 - Composition
• amended Article 45 - Accountability
• amended Article 46 - National parliaments
• amended Article 47 - Independence

Part III › Title II

• amended Article 50 - Tasks
• amended Article 51 - Meeting of the plenary session of the Board
• amended Article 52 - General provisions on the decision-making process

Part III › Title III

• amended Article 53 - Participation in the executive sessions
• amended Article 54 - Tasks
• amended Article 55 - Decision-making

Part III › Title IV

• amended Article 56 - Appointment and tasks

Part III › Title V › Chapter 1

• amended Article 57 - Resources
• amended Article 58 - Budget
• amended Article 59 - Part I of the budget on the administration of the Board
• amended Article 60 - Part II of the budget on the Fund
• amended Article 61 - Establishment and implementation of the budget
• amended Article 62 - Internal audit and control
• amended Article 63 - Implementation of the budget, presentation of accounts and discharge
• amended Article 64 - Financial rules
• amended Article 65 - Contributions to the administrative expenditures of the Board
• amended Article 66 - Anti-fraud measures

Part III › Title V › Chapter 2 › Section 1

• amended Article 67 - General provisions
• amended Article 69 - Target level
• amended Article 70 - Ex-ante contributions
• amended Article 71 - Extraordinary ex-post contributions
• amended Article 72 - Voluntary borrowing between resolution financing arrangements
• amended Article 73 - Alternative funding means

Part III › Title V › Chapter 2 › Section 2

• amended Article 75 - Investments

Part III › Title V › Chapter 2 › Section 3

• amended Article 76 - Mission of the Fund
• amended Article 79 - Use of deposit guarantee schemes in the context of resolution

Part III › Title VI

• amended Article 81 - Language arrangements
• amended Article 82 - Staff
• amended Article 83 - Staff exchange
• amended Article 85 - Appeal Panel
• amended Article 86 - Actions before the Court of Justice
• amended Article 87 - Liability of the Board
• amended Article 88 - Professional secrecy and exchange of information
• amended Article 89 - Data protection
• amended Article 90 - Access to documents
• amended Article 91 - Security rules on the protection of classified and sensitive non-classified information
• amended Article 92 - Court of Auditors

Part IV

• amended Article 93 - Exercise of the delegation
• amended Article 94 - Review
• amended Article 95 - Amendment to Regulation (EU) No 1093/2010
• amended Article 97 - Headquarters Agreement and operating conditions
• amended Article 98 - Start of the Board's activities
• amended Article 99 - Entry into force