BRRD II definition

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC.

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC, as the same may be amended or replaced from time to time;

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending the BRRD as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998, as the same may be amended or superseded from time to time;

Examples of BRRD II in a sentence

• The UK Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (SI 2020/1350) have transposed the BRRD II in the UK.

• The Banking Reform Package also contains the Directive (EU) 2019/879 (BRRD II), which amended the BRRD, introducing, inter alia, significant changes to the standards regarding the calibration of the MREL requirement for banks that are systematically relevant and redefining the scope of MREL itself in order to align the eligibility criteria with those set out in the CRR so as to converge this ratio with the TLAC.

• The BRRD II Directive ((EU) 2019/879) (“BRRD II”) and the SRM II Regulation ((EU) 2019/877) (“SRM II”) have amended the BRRD and the SRM Regulation, respectively.

• Member States were expected to adopt and publish the measures necessary to comply with the BRRD II by 28 December 2020 and to apply those measures from the same date, with the exception of certain measures listed in article 3.

• Regulatory restrictions with regard to certain types of Notes The BRRD II and the SRMR II have detailed the scope of liabilities that are intended to be eligible for the purposes of the MREL.

• The reason could be the novelty of the exercise, which demands more attention, thus increasing the metabolic load and thus the energy expenditure.

• The CRR II and the BRRD II give effect to the FSB TLAC Term Sheet and modify the requirements for MREL eligibility.

• The sequence of any resulting write-down or conversion of eligible instruments under Article 48 of BRRD II and Article 49 of the Resolution Law provides for claims to be written-down or converted into equity in accordance with the hierarchy of claims provided in the Resolution Law.

• In addition, the BRRD II, the SRMR II and the CRR II have been recently adopted and there is uncertainty as to their implementation and interpretation in the relevant Member States.

• The BRRD II requires E.U. member states to grant certain resolution powers to national and, where relevant, E.U. resolution authorities, including the power to impose a temporary stay and to recapitalize a failing entity by writing down its unsecured debt or converting its unsecured debt into equity.

More Definitions of BRRD II

BRRD II means Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms as amended by Directive (UE) 2019/879.

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC. “Law 11/2015” means Law 11/2015 of 18 June, on recovery and resolution of credit institutions and investment firms (Ley 11/2015, de 18 de junio, de recuperación y resolución de entidades de crédito y empresas de servicios de inversión) as amended or replaced from time to time. “RD 1012/2015” means Royal Decree 1012/2015, of 6 November developing Law 11/2015, as amended or superseded from time to time.

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms and Directive 98/26/EC.

BRRD II means Directive 2019/879/EU of the European Parliament and of the Council of 20th May, 2019 amending Directive 2014/59/EU as regards the loss-absorbing and

BRRD II means the BRRD, as amended or replaced from time to time (including by the BRRD Revision) or, as the case may be, any implementation provision under French law;

BRRD II means Directive 2014/59EU of the European Parliament and of the Council of the European Union of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms, as published in the Official Journal of the European Union on 12 June 2014, as amended or replaced from time to time (including by the Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss- absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC) or such other directive as may come in effect in the place thereof;