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: