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

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