7 January 2015
The New Year marked a major implementation deadline for the EU Bank Recovery and Resolution Directive. A key component of European efforts to improve and harmonise rules for resolving failing financial institutions, the Directive will also have significant impact for firms during their normal life.
From the compliance burden of resolution planning to changes to capital structure shaped by new loss absorbency requirements, this Clifford Chance client briefing provides an overview of the Directive's key requirements. The briefing also looks at the recently published UK implementation measures and considers the impact of the UK's new bail-in regime on netting, set-off and collateral.