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Commission Implementing Regulation (EU) 2018/1624 of 23 October 2018 laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council, and repealing Commission Implementing Regulation (EU) 2016/1066 (Text with EEA relevance)

EU Regulation 2018/1624 · Adopted 23 October 2018 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Commission Implementing Regulation (EU) 2018/1624

of 23 October 2018

laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council, and repealing Commission Implementing Regulation (EU) 2016/1066

(Text with EEA relevance)

C1C2

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to 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 and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Councilf1, and in particular Article 11(3) thereof,

Whereas:

(1)

Commission Implementing Regulation (EU) 2016/1066f2 specifies the procedure and introduces a minimum set of templates for the provision of information to resolution authorities by credit institutions or investment firms (‘institutions’) for the purpose of drawing up and implementing resolution plans for institutions. Since the adoption of Implementing Regulation (EU) 2016/1066, resolution authorities have gained experience in the area of resolution planning. In light of that experience, it is necessary to update the minimum set of templates for the collection of information for resolution planning purposes.

(2)

Implementing Regulation (EU) 2016/1066 also aims to design the procedure and the minimum set of templates for the provision of information to resolution authorities by institutions in a way that enables the resolution authorities to collect that information in a consistent manner across the Union and to facilitate the exchange of information among the relevant authorities. However, experience has shown that a harmonised approach to the collection of that information has only been partially achieved. It is therefore necessary to ensure that resolution authorities collect a minimum core of information relating to an institution or group across the Union on a regular basis. This does not prevent the resolution authority from collecting any additional information they deem necessary to draw up and implement resolution plans or to determine, as set out in Article 4 of Directive 2014/59/EU, simplified information obligations.

(3)

In order to ensure that resolution plans are based on a minimum set of data of consistently high quality and precision, the data items set out in the reporting templates introduced by Implementing Regulation (EU) 2016/1066 should be transformed into a single data point model, as is the practice in supervisory reporting. The single data point model should consist of a structural representation of the data items, and identify all relevant business concepts for the purpose of uniform reporting for resolution planning and should contain all of the relevant specifications necessary for further developing uniform IT reporting solutions.

(4)

In order to safeguard the quality, consistency and accuracy of data items reported by institutions, the data items should be subject to common validation rules.

(5)

Due to their very nature, validation rules and data point definitions are updated regularly in order to ensure they comply, at all times, with applicable regulatory, analytical and information technology requirements. However, the time presently required to adopt and publish the detailed single data point model and validation rules means that it is not possible to carry out modifications in a sufficiently rapid and timely manner that would ensure permanent provision of uniform information regarding resolution plans in the Union. Therefore, stringent qualitative criteria should be established for the detailed single data point model and the detailed common validation rules which will be published electronically by the European Banking Authority (EBA) on its website.

(6)

In accordance with Article 11(2) of Directive 2014/59/EU, competent and resolution authorities should cooperate in order to minimise duplicated information requirements. For that purpose, Implementing Regulation (EU) 2016/1066 introduces a cooperation procedure between competent and resolution authorities, which should be maintained so that competent and resolution authorities jointly verify whether some or all of the requested information is already available to the competent authority. Where the information is available to the competent authority, it is appropriate that it transmits it to the resolution authority directly.

(7)

Given the extent of the necessary amendments to Implementing Regulation (EU) 2016/1066, it is preferable, for reasons of legal certainty and clarity, to adopt a new Implementing Regulation and, therefore, to repeal Implementing Regulation (EU) 2016/1066.

(8)

This Regulation is based on the implementing technical standards submitted by the EBA to the Commission.

(9)

The EBA has conducted open public consultations on the implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Councilf3,

HAS ADOPTED THIS REGULATION:

Annotations to the whole text

Modifications

C1

The “appropriate regulator” has power to make such provision as they consider appropriate by means of an instrument in writing to prevent, remedy or mitigate any failure of the provisions of this Regulation to operate effectively or any other deficiency arising from the withdrawal of the United Kingdom from the EU, see The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 3 para. 113A (as amended by The Financial Regulators’ Powers (Technical Standards etc.) and Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/576), regs. 1(2), 2(5)) (with saving on IP completion day by S.I. 2018/680. regs. 1(2), 11; 2020 c. 1, Sch. 5 para. 1(1))

C2

Regulation: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 3; S.I. 2023/779, reg. 2(d)

Footnotes

f1

OJ L 173, 12.6.2014, p. 190.

f2

Commission Implementing Regulation (EU) 2016/1066 of 17 June 2016 laying down implementing technical standards with regard to procedures, standard forms and templates for the provision of information for the purpose of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council (OJ L 181, 6.7.2016, p. 1).

f3

Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).

Contents

  1. 1Subject matter
  2. 2Definitions
  3. 3Provision of core information for the purpose of individual and group resolution plans
  4. 4Level of consolidation of information
  5. 5Frequency, reference dates and remittance dates
  6. 6Format for the submission of information
  7. 7Provision of additional information for the purpose of individual or group resolution plans
  8. 8Cooperation between competent and resolution authorities
  9. 9Transition period
  10. 10Repeal
  11. 11Entry into force
  12. Signature
  13. Annex IAnnex I
  14. Annex II: Instructions
  15. General instructions
  16. Structure
  17. 1The framework consists of 15 templates, organised in 3 blocks:
  18. References
  19. 2For the purposes of this Annex, the following abbreviations shall apply:
  20. Accounting standards
  21. 3Division 3
  22. 4Division 4
  23. Scope of consolidation
  24. 5This framework refers, depending on the template, to:
  25. 6Division 6
  26. Numbering and other conventions
  27. 7Division 7
  28. 8Division 8
  29. 9Division 9
  30. 10Division 10
  31. 11Division 11
  32. 12Division 12
  33. 13Division 13
  34. Template-related instructions
  35. Z 01.00 — Organisational structure (ORG)
  36. General remarks
  37. 14Division 14
  38. II.1.2Instructions concerning specific positions
  39. Z 02.00 — Liability Structure (LIAB)
  40. General remarks
  41. 15Division 15
  42. 16Division 16
  43. 17Division 17
  44. 18Division 18
  45. II.2.2Instructions concerning specific positions
  46. Z 03.00 — Own funds requirements (OWN)
  47. General remarks
  48. 19Division 19
  49. 20Division 20
  50. 21Division 21
  51. 22Division 22
  52. II.3.2Instructions concerning specific positions
  53. Z 04.00 — Intragroup financial interconnections (IFC)
  54. General remarks
  55. 23Division 23
  56. 24Division 24
  57. 25Division 25
  58. II.4.2Instructions concerning specific positions
  59. Z 05.01 and Z 05.02 — Major Counterparties (MCP)
  60. General remarks
  61. 26Division 26
  62. 27Division 27
  63. II.5.2Z 05.01 – Major liabilities counterparties — Instructions concerning specific positions
  64. 28Division 28
  65. II.5.3Z 05.02 – Major off-balance sheet counterparties: Instructions concerning specific positions
  66. 29Division 29
  67. Z 06.00 — Deposit insurance (DIS)
  68. General remarks
  69. 30Division 30
  70. 31Division 31
  71. II.6.2Instructions concerning specific positions
  72. Critical functions and core business lines
  73. II.7.1General remarks
  74. 32Division 32
  75. 33Division 33
  76. 34Division 34
  77. 35Division 35
  78. 36Division 36
  79. 37Division 37
  80. 38Division 38
  81. 39Pursuant to Article 6(1) of Commission Regulation (EU) 2016/778, a function shall be considered critical, when it meets both of the following:
  82. 40Division 40
  83. 41Division 41
  84. 42Division 42
  85. 43Division 43
  86. II.7.2Z 07.01 — Criticality assessment of economic functions (FUNC 1): Instructions concerning specific positions
  87. 44Division 44
  88. 45Division 45
  89. II.7.3Z 07.02 — Mapping of critical functions by legal entity (FUNC 2): Instructions concerning specific positions
  90. 46Division 46
  91. 47Division 47
  92. II.7.4Z 07.03 — Mapping of Core Business Lines to legal entities (FUNC 3): Instructions concerning specific positions
  93. 48Division 48
  94. 49Division 49
  95. II.7.5Z 07.04 — Mapping of critical functions to core business lines (FUNC 4): Instructions concerning specific positions
  96. 50Division 50
  97. 51Division 51
  98. Z 08.00 — Critical services (SERV)
  99. General instructions
  100. 52Division 52
  101. 53Division 53
  102. 54Division 54
  103. 55Division 55
  104. 56Division 56
  105. II.8.2Instructions concerning specific positions
  106. Z 09.00 — FMI Services — Providers and Users — Mapping to Critical Functions
  107. General remarks
  108. 57Division 57
  109. 58Division 58
  110. 59Division 59
  111. II.9.2Instructions concerning specific positions
  112. Critical information systems
  113. General remarks
  114. 60This section consists of the following templates:
  115. 61Division 61
  116. 62Division 62
  117. II.10.2Z 10.01 — Critical Information systems (General information) (CIS 1): Instructions concerning specific positions
  118. 63Division 63
  119. II.10.3Z 10-02 — Mapping of information systems (CIS 2): Instructions concerning specific positions
  120. 64Division 64
  121. Annex IIISingle data point model
  122. Annex IVValidation rules