EBA Seeks Public Opinion on Technical Standards for Recovery Plans

The European Banking Authority has issued a public consultation on the Draft Regulatory Technical Standard concerning the content of recovery plans, kickstarting the preparatory work for the implementation of the Recovery and Resolution Directive.

The proposed Technical Standard suggests that recovery plans developed at the group and individual levels should include the following key components: a summary, details of governance, a strategic analysis of the institution's business and functions, a plan for internal and external communication, and details of preparatory measures taken or to be taken to improve the effectiveness of the plan.

Comments on the consultation paper should be submitted by June 13, 2012. Note that, as the directive is still under discussion by the European Parliament and the Council, further changes may be made after the consultation period to take into account possible changes in the final version of the directive.