rec_34

(34) This Directive and Regulation (EU) No 575/2013 aim to ensure the solvency of institutions. If, notwithstanding the solvency requirements, a crisis occurs, it is necessary to ensure that institutions can be resolved in an orderly manner, limiting the negative impact on the real economy and avoiding the need for taxpayers to step in. For that purpose, pending further coordination at Union level, EBA should assess and coordinate initiatives, in accordance with Regulation (EU) No 1093/2010, on recovery and resolution plans with a view to promoting convergence in that area. To that end, EBA should be fully informed in advance of the organisation of meetings on recovery and resolution plans and should be entitled to participate in such meetings. Some Member States' authorities have already introduced obligations for institutions and authorities to prepare recovery and resolution plans. It is therefore appropriate that institutions be required to cooperate with authorities in that regard. Where a recovery or resolution plan is being drafted, EBA should contribute to and participate actively in the development and coordination of effective and consistent recovery and resolution plans in accordance with Regulation (EU) No 1093/2010. Priority should be given where such plans involve systemically important institutions.

← rec_33 · All articles · rec_35 →

Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.