{
  "url": "https://openlegislation.uk/eu-regulation-2016-860/article-6",
  "json_url": "https://openlegislation.uk/eu-regulation-2016-860/article-6.json",
  "legislation": "eur/2016/860",
  "legislation_title": "Commission Delegated Regulation (EU) 2016/860 of 4 February 2016 specifying further the circumstances where exclusion from the application of write-down or conversion powers is necessary under Article 44(3) of Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2016-860",
  "path": "article/6",
  "kind": "article",
  "number": "6",
  "heading": "Reasonable time",
  "text": "1. When seeking to exclude a liability or class of liabilities from bail-in on the ground specified in section 48B(12)(a) of the Act, and in order to determine what constitutes ‘reasonable time’, the resolution authority shall determine the following:\n(a) when the write-down amount has to be ultimately determined;\n(b) by when all the tasks needed to bail-in those liabilities would need to be performed in order to meet the resolution objectives taking into account the situation at the time of the resolution action.\n2. When determining the requirements laid down in paragraph 1, the resolution authority shall assess the following:\n(a) the need to publish a bail-in decision and to determine the bail-in amount and its final allocation to the various classes of creditors;\n(b) the consequences of delaying such a decision for market confidence, potential market reactions, such as liquidity outflows, and the effectiveness of resolution action, taking into account both of the following:\n(i)whether the distress and risk of failure of the institution is known to market participants;\n(ii)the visibility of the consequences of the distress or potential failure of the institution to market participants;\n(c) the opening times of markets in as much as they may impact continuity of critical functions and contagion effects;\n(d) the reference date(s) when capital requirements have to be complied with;\n(e) the dates when payments of the institution are due, and the maturity of the liabilities concerned.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Art. 6(1) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(7)(a)(i); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in Art. 6(1) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(7)(a)(ii); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in Art. 6(2) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 5 para. 2(7)(b); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2016/860/article/6",
    "retrieved_at": "2026-11-01T14:45:48.556410+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}