Scope of application

These guidelines apply where a transfer tool is part of the preferred resolution strategy. However, resolution authorities may decide to apply resolution tool-specific parts of these guidelines (e.g. transfer strategies) to institutions whose planned preferred resolution strategy does not rely on these tools, such as only including transfer tools as variant strategy, as referred to in Article 22, 1 st subparagraph, point 2(e), of Commission Delegated Regulation (EU) 2016/1075⁶ .

⁶ Commission Delegated Regulation (EU) 2016/1075 of 23 March 2016 supplementing Directive 2014/59/EU of the European Parltime and of the Council with regard to regulatory technical standards specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent authority is to assess as regards recovery plans and group recovery plans, the conditions for group financial support, the requirements for independent valuers, the contractual recognition of write-down and conversion powers, the procedures and contents of notification requirements and of notice of suspension and the operational functioning of the resolution colleges (OJ L 184, 8.7.2016, p. 1 – 71).

These guidelines do not apply to institutions which are subject to simplified obligations for resolution planning in accordance with Article 4 of Directive 2014/59/EU.

In the case of a change of resolution strategy, in particular by new inclusion of a transfer tool in the preferred resolution strategy, then these guidelines should apply, in full, as quickly as possible and no later than 3 years as from the date of the approval of the resolution plan including the new resolution strategy.

Resolution authorities may decide to apply these guidelines in whole or in part to institutions subject to simplified obligations for resolution planning or to institutions whose resolution plan provides that they are to be wound up in an orderly manner in accordance with the applicable national law.

For institutions that are not part of a group subject to consolidated supervision pursuant to Articles 111 and 112 of Directive 2013/36/EU⁷ , these guidelines apply at the individual level.

⁷ Directive 2013/36/EU of the European Parliament and of the Council, of 26 June 2013, on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176 27.6.2013, p. 338).

For institutions that are part of a group subject to consolidated supervision pursuant to Articles 111 and 112 of Directive 2013/36/EU, these guidelines apply to the whole resolution group, i.e. the resolution entities and its subsidiaries.