Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.4.7.2:6.4.7.2 Resolution schemes

Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.4.7.2

6.4.7.2 Resolution schemes

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It can be read in the decisions taken by the Commission since the introduction of the resolution framework in respect of resolution schemes, that it has considered the following provisions to be intrinsically linked provisions of the resolution framework in relation to resolution schemes:

1.

The requirement to write down and convert capital instruments pursuant to Article 59(3) BRRD;1

2.

The requirements under which a national resolution fund may make a contribution where a resolution authority decides to exclude eligible liabilities from the scope of the bail-in tool pursuant to Article 44(5) BRRD.2

In relation to the Italian liquidation scheme, the Commission considered that the notified State support would be granted under national insolvency law following the determination that there is no public interest in resolution and that it therefore does not circumvent Article 18(1) SRMR and Article 32(1) BRRD.

The Commission also considered whether the use of the deposit guarantee scheme did not violate intrinsically linked provisions of the DGS Directive.3

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