ISDA Launches BRRD Implementation Monitor

ISDA announced that it launched the Implementation Monitor of the European Bank Recovery and Resolution Directive ("BRRD"), which is the European Union's implementation of the Financial Stability Board's Key Attributes on Effective Resolution Regimes for Financial Institutions.

According to ISDA, the BRRD creates a "minimum harmonization regime for resolution banks and investment firms in the EU," and currently is being implemented in all EU member states. To keep track of the status of the implementation, ISDA launched the BRRD Implementation Monitor, which focuses primarily on the derivatives-specific provisions and will be updated on a regular basis to reflect the progress made in each jurisdiction.

See: ISDA Press Release and Implementation Monitor.Related news: FSB Publishes Guidance on Resolution of Non-Bank Financial Institutions and Systemically Important Insurers (with Lofchie Comment) (October 17, 2014).