EBA offers advice on determining ‘critical functions’ in resolution
Bank resolution plans found to be lacking in some areas
The European Banking Authority (EBA) has offered technical advice on how to identify a bank's critical functions when designing a resolution plan, in analysis designed to clarify the terms of the EU's Bank Recovery and Resolution Directive (BRRD).
The advice, offered following a request from the European Commission, builds upon guidance from the Financial Stability Board (FSB) and on the results of a benchmarking exercise conducted by the EBA that assessed banks' resolution plans.
The EBA
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