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On 27 June 2013, the Council of the European Union (“EU”) agreed on its position regarding bank resolution. Following this confirmation, the European Parliament published the Bank Recovery and Resolution Directive (2014/59/EU) (“BRRD”) on 15 May 2014. The preparation of recovery plans by institutions – to be reviewed annually – is a key component of the BRRD. Recovery plans are part of the broader process of crisis prevention, and are designed to ensure that the institution has appropriate processes and measures in place should it come under stress.
The objective of this paper, is to provide our clients with a comprehensive review of the technical standards related to recovery plans, and observations provided by the industry. Informed by
Avantage Reply’s experience in assisting our clients with the preparation of recovery plans, this paper also functions as a user-friendly guide to the technical process of recovery plan preparation.