On October 22, 2015, the EBA published translations of its final Guidelines on the application of simplified obligations under the Bank Recovery and Resolution Directive. The EBA’s guidelines set out: (i) criteria for considering whether a firm can be subject to simplified obligations; (ii) entitlement for national regulators to attribute certain weightings to such criteria; and (iii) creation of “mandatory indicators” which must be used and “optional indicators” which may be used in assessing application criteria. The BRRD allows national regulators to apply simplified recovery obligations, including simpler requirements as to the contents and details of resolution plans, and less frequency in their updates. Such obligations will not apply to globally systemically important institutions and other systemically important institutions. The Guidelines are addressed to national regulators and national resolution authorities and will apply from December 17, 2015.

The Guidelines are available at: http://www.eba.europa.eu/documents/10180/1232502/EBA-GL-2015- 16+GLs+on+simplified+obligations-EN.pdf/df9b0518-c938-4b09-8670-689ba9ba52c0