September 22
2021
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Trajan Shipley
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29th July 2021
Banking & Finance

SRB outlines approach to prior permissions regime to redeem liabilities

The Single Resolution Board (SRB) has outlined its new approach to the prior authorisation regime under Articles 77 and 78a of the Capital Requirements Regulation that allows banks to reduce eligible liabilities instruments. 

The SRB’s new policy requires banks to file applications based on the list of information requirements as referred to in Articles 32(d) and (e) of the draft Regulatory Technical Standards (RTS) that are currently in the process of being finalised by the Commission. According to the SRB, it is most likely that the draft RTS, which will replace the SRB’s provisional procedure to assess applications, will not be adopted before 1 January 2022, which is the deadline for institutions to comply with the intermediate

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