# Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (revoked) EU Regulation No 806/2014 ยท adopted 15 July 2014 Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 ## Introductory text Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (revoked) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part I: GENERAL PROVISIONS ## 1 Subject matter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Participating Member States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 Relation to Directive 2014/59/EU and applicable national law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 General principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Division of tasks within the SRM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part II: SPECIFIC PROVISIONS ### Title I: FUNCTIONS WITHIN THE SRM AND PROCEDURAL RULES ### Chapter 1: Resolution planning ## 8 Resolution plans drawn up by the Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 Resolution plans drawn up by national resolution authorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Assessment of resolvability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10a Power to prohibit certain distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Simplified obligations for certain institutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 Minimum requirement for own funds and eligible liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12a Application and calculation of the minimum requirement for own funds and eligible liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12b Exemption from the minimum requirement for own funds and eligible liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12c Eligible liabilities for resolution entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12d Determination of the minimum requirement for own funds and eligible liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12e Determination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs and Union material subsidiaries of non-EU G-SIIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12f Application of the minimum requirement for own funds and eligible liabilities to resolution entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12g Application of the minimum requirement for own funds and eligible liabilities to entities that are not themselves resolution entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12h Waiver of the minimum requirement for own funds and eligible liabilities applied to entities that are not themselves resolution entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12i Waiver for a central body and credit institutions permanently affiliated to a central body . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12j Breaches of the minimum requirement for own funds and eligible liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12k Transitional and post-resolution arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Early intervention ## 13 Early intervention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Resolution ## 14 Resolution objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 General principles governing resolution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Resolution of financial institutions and parent undertakings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 Order of priority of claims . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 Resolution procedure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19 State aid and Fund aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 Valuation for the purposes of resolution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 21 Write-down or conversion of capital instruments and eligible liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 General principles of resolution tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 Resolution Scheme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 Sale of business tool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Bridge institution tool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 26 Asset separation tool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 27 Bail-in tool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 Monitoring by the Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 29 Implementation of decisions under this Regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 4: Cooperation ## 30 Obligation to cooperate and information exchange within the SRM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 Cooperation within the SRM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 Consultation of, and cooperation with, non-participating Member States and third countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 Recognition and enforcement of third-country resolution proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 5: Investigatory powers ## 34 Requests for information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 35 General investigations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 36 On-site inspections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 37 Authorisation by a judicial authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 6: Penalties ## 38 Fines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 39 Periodic penalty payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 40 Hearing of the persons subject to the proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 41 Disclosure, nature, enforcement and allocation of fines and periodic penalty payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part III: INSTITUTIONAL FRAMEWORK ### Title I: THE BOARD ## 42 Legal status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 43 Composition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 44 Compliance with Union law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45 Accountability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 46 National parliaments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 47 Independence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 48 Seat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Title II: PLENARY SESSION OF THE BOARD ## 49 Participation in plenary sessions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 50 Tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 51 Meeting of the plenary session of the Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 52 General provisions on the decision-making process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Title III: EXECUTIVE SESSION OF THE BOARD ## 53 Participation in the executive sessions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 54 Tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 55 Decision-making . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Title IV: CHAIR ## 56 Appointment and tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Title V: FINANCIAL PROVISIONS ### Chapter 1: General provisions ## 57 Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 58 Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 59 Part I of the budget on the administration of the Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 60 Part II of the budget on the Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 61 Establishment and implementation of the budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 62 Internal audit and control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 63 Implementation of the budget, presentation of accounts and discharge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 64 Financial rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 65 Contributions to the administrative expenditures of the Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 66 Anti-fraud measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: The Single Resolution Fund ### Section 1: Constitution of the Fund ## 67 General provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 68 Requirement to establish resolution financing arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 69 Target level . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 70 Ex-ante contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 71 Extraordinary ex-post contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 72 Voluntary borrowing between resolution financing arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 73 Alternative funding means . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 74 Access to financial facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 2: Administration of the Fund ## 75 Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Section 3: Use of the Fund ## 76 Mission of the Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 77 Use of the Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 78 Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 79 Use of deposit guarantee schemes in the context of resolution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Title VI: OTHER PROVISIONS ## 80 Privileges and Immunities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 81 Language arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 82 Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 83 Staff exchange . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 84 Internal committees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 85 Appeal Panel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 86 Actions before the Court of Justice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 87 Liability of the Board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 88 Professional secrecy and exchange of information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 89 Data protection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 90 Access to documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 91 Security rules on the protection of classified and sensitive non-classified information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 92 Court of Auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part IV: POWERS OF EXECUTION AND FINAL PROVISIONS ## 93 Exercise of the delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 94 Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 95 Amendment to Regulation (EU) No 1093/2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 96 Replacement of national resolution financing arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 97 Headquarters Agreement and operating conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 98 Start of the Board's activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 99 Entry into force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/eur/2014/806 (the official version) Page: https://openlegislation.uk/eu-regulation-2014-806 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.