Seminar on Preparing a Recovery and Resolution Plan

On 13 July 2012, DRS, together with SNR Denton, will be presenting a half-day workshop on the law and practice relating to Living Wills at the British Bankers’ Association headquarters in London.  The latest regulatory guidance on RRP will be discussed, including:

  • The FSB’s “Key Attributes of Effective Resolution Regimes for Financial Institutions” Discussion Paper;
  • The FSA’s Feedback Statement 12/1;
  • The EBA Discussion Paper on a Template for Recovery Plans; and
  • The draft EU Directive Establishing a Framework for the Recovery and Resolution of Credit Institutions.

Specifically, we will be suggesting a template for a recovery plan and discussing some of the practical issues currently facing market participants in completing their RRP submissions as well as some possible solutions.

More information about the event and an online registration form are available here.

Please join us if you can.  If you aren’t able to attend on the day but are nonetheless interested in the subject, just let me know and we’d be happy to make alternative arrangements.  My contact details are on the “About” page of this blog.

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European Banking Authority Publishes Discussion Paper on Template for Recovery Plans

On 15 May 2012 the EBA published a discussion paper regarding recovery plans.  This purpose of the discussion paper is to present some preliminary ideas on what the key elements of a recovery plan should be and to advance a possible template for recovery plans, taking into account the “Key Attributes of Effective Resolution Regimes for Financial Institutions” already published by the Financial Stability Board (FSB).

The implementation of specific recovery and resolution planning requirements within the EU remains the responsibility of Member States.  Accordingly, the ‘template’ within the EBA discussion paper does not take the form of a draft document, but rather serves as a basis from which an EU view on the essential elements of a recovery plan can be developed.  Fortunately for deposit taking institutions within the UK, the EBA’s proposals remain consistent with the detailed data requirements of the FSA which form the central plank of CP11/16 (and more recently FS12/1).

The discussion paper is open for comments until 15 June 2012 and can be found here:

http://eba.europa.eu/cebs/media/Publications/Discussion%20Papers/DP%202012%2002/Discussion-Paper-on-Template-for-Recovery-Plans.pdf