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Notification of impracticability to include bail-in recognition clauses in contracts: update

News
|
Monday, 25 October 2021
| Maria DIAZ OLIVER

The SRB has published an update of its communication on how banks can notify the authorities when bail-in recognition clauses cannot be added to contracts under third-country law, following the publication of the delegated and implementing acts.

The update concerns:

  • Adequate references to the Level 2 legislation;
  • A requirement for banks to submit notifications, if any, in XBRL;
  • Some practical instructions for banks reporting categories of liabilities/contracts, in line with the EBA Reporting Framework 3.0.

Read the operational guidance here

Documents

PDF | 439.16 KB | Publishing date: | Decision date:
2021-10-25 SRB Article 55 guidance.pdf

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