Bank Recovery and Resolution Directive – FAQs

24-08-2015

Author: Robert Cain



The Bank Recovery and Resolution Directive (Directive 2014/59/EU) (BRRD) was introduced in light of concerns that insufficient tools and resources existed at EU-level to deal effectively with failing banks and investment firms, albeit many Member States, including Ireland, did have domestic resolution regimes in place. Given that the failure of a cross-border institution could severely affect the stability of the European financial markets, the BRRD was developed as a framework for resolving banks and large investment firms operating at both a national and cross-border level in the EU. The BRRD has now been implemented into Irish law, and will supersede existing domestic resolution legislation where applicable.

This Briefing summarises the key aspects of the BRRD.

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