BRRD II definition

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC.

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC, as the same may be amended or replaced from time to time;

BRRD II means Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms as amended by Directive (UE) 2019/879.

Examples of BRRD II in a sentence

• The Banking Reform Package also contains the Directive (EU) 2019/879 (BRRD II), which amended the BRRD, introducing, inter alia, significant changes to the standards regarding the calibration of the MREL requirement for banks that are systematically relevant and redefining the scope of MREL itself in order to align the eligibility criteria with those set out in the CRR so as to converge this ratio with the TLAC.

• The CRR II and the BRRD II give effect to the FSB TLAC Term Sheet and modify the requirements for MREL eligibility.

• As such, G-SIBs, such as Societe Generale will have to comply at the same time with TLAC and MREL requirements.Consequently, criteria for MREL-eligible liabilities will be closely aligned with those laid down in the CRR, as amended by the CRR II for the TLAC-eligible liabilities, but subject to the complementary adjustments and requirements introduced in the BRRD II.

• The Capital Requirements Regulation II and the BRRD II give effect to the FSB TLAC Term Sheet and modify the requirements for MREL eligibility.

• Impact of BRRD II on the ranking of fully or partially recognised own fund instruments According to the article 48(7) of BRRD II (as implemented into Luxembourg law by article 152(4) of the Resolution Law, liabilities resulting from fully or partially recognised own funds instruments (within the meaning of the CRR) shall rank junior to all other liabilities.

More Definitions of BRRD II

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending the BRRD as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998, as the same may be amended or superseded from time to time;

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC. “Law 11/2015” means Law 11/2015 of 18 June, on recovery and resolution of credit institutions and investment firms (Ley 11/2015, de 18 de junio, de recuperación y resolución de entidades de crédito y empresas de servicios de inversión) as amended or replaced from time to time. “RD 1012/2015” means Royal Decree 1012/2015, of 6 November developing Law 11/2015, as amended or superseded from time to time.

BRRD II means Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms and Directive 98/26/EC.

BRRD II means Directive 2014/59EU of the European Parliament and of the Council of the European Union of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms, as published in the Official Journal of the European Union on 12 June 2014, as amended or replaced from time to time (including by the Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 amending Directive 2014/59/EU as regards the loss- absorbing and recapitalisation capacity of credit institutions and investment firms and Directive 98/26/EC) or such other directive as may come in effect in the place thereof;

BRRD II means Directive 2019/879/EU of the European Parliament and of the Council of 20th May, 2019 amending Directive 2014/59/EU as regards the loss-absorbing and

BRRD II means Directive 2014/59 of 15 May 2014 establishing a framework for recovery and resolution of credit institutions and investment firms;

BRRD II means the BRRD, as amended or replaced from time to time (including by the BRRD Revision) or, as the case may be, any implementation provision under French law;