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
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