Public funding of failing banks in the European Union
Einde inhoudsopgave
Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.4.1:6.4.1 The procedural outline of the assessment of resolution aid
Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.4.1
6.4.1 The procedural outline of the assessment of resolution aid
Documentgegevens:
M. Louisse-Read, datum 01-06-2020
- Datum
01-06-2020
- Auteur
M. Louisse-Read
- JCDI
JCDI:ADS213921:1
- Vakgebied(en)
Financieel recht / Europees financieel recht
Staatssteun (V)
Toon alle voetnoten
Voetnoten
Voetnoten
Article 19(2) SRMR.
Article 19(9) SRMR.
Article 19(1) SRMR.
In the case of the resolution of BES, the State aid decision was taken on the same date as Portugal notified the Commission of the resolution (EC, 3 August 2014, C(2014) 5682 final (SA.39250 – BES), par. 4). In the case of the resolution of Carichieti, the State aid decision was taken two days after Italy notified the Commission of the resolution (EC, 22 December 2015, C(2015) 8373 final (SA.43547 – Carichieti), par. 5).
Deze functie is alleen te gebruiken als je bent ingelogd.
When the resolution of banks involves the granting of resolution aid, this should be notified by the relevant Member State(s) involved to the Commission and be – conditionally – approved by the Commission before any such aid can be granted. The two-stage procedure of preliminary examination and formal investigation as set out in section 3.5.1 applies.
A new feature within the SRM is that the SRB plays a role in that respect. On receiving a communication or on its own initiative, if the SRB considers that resolution actions could constitute State aid pursuant to Article 107(1) TFEU, it shall invite the Member State(s) concerned to immediately notify the envisaged measures to the Commission under Article 108(3) TFEU. The SRB shall notify the Commission of any case in which it invites one or more Member States to make a notification under Article 108(3) TFEU.1
As discussed in section 6.2.1.1, where State aid is present in resolution within the SRM, the SRB can only adopt a resolution decision after the Commission has adopted a positive or conditional decision concerning the compatibility of the use of this aid with the internal market.2 The SRB has to act in conformity with a decision on that aid taken by the Commission.3 The adoption of any resolution scheme following the resolution decision is also conditional on the Commission adopting a positive or conditional decision on the granting of the State aid.4 It can be derived from the Commission’s decisions that the decision of national resolution authorities to adopt a resolution decision also more or less coincides with the Commission taking a decision on the compatibility of the State aid involved.5
The procedural outline for the assessment of the use of the SRF and ESM DRI is discussed separately in section 6.4.6, taking into account that specific criteria apply for these types of supranational EPFS, in addition to the State aid regime for the banking sector, based on the SRMR and the ESM DRI Guideline.