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Recital 7

Recital 7

(7)As regards bail-inable liabilities that are governed by the laws of a third country, Article 45i(5) of Directive 2014/59/EU also requires the draft implementing technical standards to be developed by EBA to specify a standardised way of providing information that indicates third countries whose laws govern such liabilities and, for each third country identified, whether such liabilities contain the contractual term recognising that they may be subject under that Directive to write down and conversion powers. Due to the need to further assess the level of granularity for the reporting of these elements, the related instructions and templates will be developed and submitted by EBA to the Commission separately in due time in order to enable both competent and resolution authorities to have access to this information on a regular basis. The absence of these limited additional elements will neither affect nor delay the application of the reporting requirements provided in this Regulation.

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