Subject matter

Pursuant to Article 32(4) of Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms¹ (‘Directive 2014/59/EU’), these Guidelines specify the types of tests, reviews or exercises that may lead to capital shortfalls that may be eligible to be covered by public recapitalisation not triggering resolution referred to, as an exception, in Article 32(4), letter (d), (iii) of the Directive 2014/59/EU — provided that all other conditions specified in that Article are met.

¹ In O.J.E.U. L 173 of 12 June 2014, p. 190.