On June 17, 2016, a Commission Implementing Regulation laying ITS under the BRRD was published in the Official Journal of the European Union. The ITS outline the uniform forms, templates and definitions for the identification and transmission of information by regulators and resolution authorities to the EBA. The BRRD outlines obligations for regulators and resolution authorities on the application of simplified obligations for the contents and details of recovery plans, the date by which the first recovery plans are to be drawn up and the frequency for updating the recovery plans.

Regulators and resolution authorities reporting information to the EBA must use the templates provided, which include criteria such as total assets, total exposure at default, total assets/member state’s gross domestic product, total risk-weighted assets and total liabilities. Regulators are to complete the relevant parts of the templates for the purposes of recovery planning and resolution authorities do so for the purposes of resolvability assessment and resolution planning. Regulators must also disclose the number and total assets of firms for which simplified obligations have been applied under the BRRD for the purposes of recovery planning, as compared to the number and total assets of firms, respectively, established in the Member State concerned.

Information to be submitted by regulators and resolution authorities includes the number of credit institutions and the number of investment firms established in the member state, and the number and total assets of institutions to which a waiver has been granted under the BRRD with regard to recovery and resolution planning. Regulators must also disclose the number and total assets of firms for which simplified obligations have been applied under the BRRD for the purposes of recovery planning as compared to the number and total assets of firms, respectively, established in the Member State concerned.

The first reporting period for this information commenced on January 1, 2015, and ended on April 30, 2016. Information for that period must be submitted to the EBA by August 12, 2016. The second reporting period commenced on May 1, 2016 and will end on April 30, 2017. Information relating to the second period must be submitted to the EBA by June 1, 2017. The ITS entered into force on July 12, 2016.

The ITS is available at: http://eur-lex.europa.eu/legalcontent/EN/TXT/?uri=uriserv:OJ.L_.2016.160.01.0035.01.ENG&toc=OJ:L:2016:160:TOC