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Recital 6

Recital 6

(6)Article 45i(5) of Directive 2014/59/EU requires the draft implementing technical standards to be developed by EBA to specify a standardised way of providing information on the ranking of own funds and bail-inable liabilities applicable in national insolvency proceedings in each Member State, for reasons of comparability and legal certainty. Standardised information on insolvency hierarchies in each Member State, and timely updates thereof, should therefore be made available by the respective resolution authorities to institutions under their jurisdiction. That information should follow a standardised presentation of insolvency hierarchies.

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