On 24 September 2014, the European Banking Authority (EBA) published a consultation paper on three sets of Guidelines relating to the Bank Recovery and Resolution Directive (BRRD). The aim of the documents is to facilitate the implementation of resolution tools in the EU banking sector, in particular in relation to the regulation of the sale of business tools and the asset separation tool, as well as the transfer of an institution or its assets under any of the resolution tools.

The Guidelines are divided into two groups and will be consulted upon at two distinct stages. The first includes Guidelines on the sale of business tool and Guidelines on the asset separation tool. Both relate to the implementation of resolution tools against constraints stemming from the EU competition and transparency rules in relation to state aids. They aim at balancing these constraints with the objective of an efficient resolution regime.

The second public consultation relates to the Guidelines on necessary services. These define a minimum list of necessary ‘critical' services that the resolution authority may require from the institution under resolution (i.e. the purchaser after a sale of business, a bridge bank or the transferee after a transfer of assets).

The consultation runs until 22 December 2014.