The European Banking Authority (EBA) has issued its Opinion under the BRRD on how to define what arrangements should be protected in a partial property transfer in resolution. The Opinion ensures full protection of well-established sources of refinancing such as secured debt, including securities lending and covered bonds, and of means of risk mitigation. The BRRD lists five general categories of arrangements which may be protected (security arrangements, title transfer collateral arrangements, set-off arrangements, netting arrangements, covered bonds and structured finance arrangements). As these categories are quite broad, the Commission is empowered to narrow their scope in its delegated acts which will now be informed by the EBA Opinion.