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Text applicable on 30 Oct 2013Consolidated version of 30 Oct 2013Earlier versionUpcoming changefrom 20 Mar 2014Unofficial text · authentic on EUR-Lex (opens in a new tab)

EBAR Article 25 — as applicable on 30 Oct 2013 (version of 30 Oct 2013)

Upcoming changeThis provision is amended or removed from 19 Aug 2014.View that version

Article 25

Recovery and resolution procedures

Amendment details· last amended 30 Oct 2013
Versions of this provision:16 Dec 201030 Oct 201319 Aug 2014

Last amended 30 Oct 2013 by Regulation (EU) No 1022/2013 of 22 October 2013.

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1.

The Authority shall contribute to, and participate actively in, the development and coordination of effective, consistent and up-to-date recovery and resolution plans for financial institutions. The Authority shall also, where provided for in the Union acts referred to in Article 1(2), assist in developing procedures in emergency situations and preventive measures to minimise the systemic impact of any failure.

2.

The Authority may identify best practices aimed at facilitating the resolution of failing institutions and, in particular, cross-border groups, in ways which avoid contagion, ensuring that appropriate tools, including sufficient resources, are available and allow the institution or the group to be resolved in an orderly, cost-efficient and timely manner.

3.

The Authority may develop regulatory and implementing technical standards as specified in the legislative acts referred to in Article 1(2) in accordance with the procedure laid down in Articles 10 to 15.