7. In relation to the requirement to revise any intragroup financing agreements or review the …

In relation to the requirement to revise any intragroup financing agreements or review the absence thereof, and to draw up service agreements (whether intra-group or with third parties) to cover the provision of critical functions or services pursuant to point (a) of Article 17(5) of Directive 2014/59/EU, the following specifications apply:

• (a) Resolution authorities should consider requiring the institution to revise existing group financing agreements or to review the absence thereof if they conclude in their assessment of the existing group financing agreements that the provision of support or its form (or the absence of this type of agreement) make it substantively more difficult for resolution authorities to achieve the resolution objectives by applying resolution tools. In particular they should be consistent with the resolution strategy considered and take into account the allocation of liabilities expected to contribute to loss absorption and recapitalisation in the group and the distribution of losses within the group considered in the relevant resolution strategy.
• (b) Resolution authorities should consider requiring the institution to draw up written service level agreements or transitional support arrangements and other appropriate measures to secure the continuity of the functions or services provided by legal entities within the group, including non-regulated affiliates, and by third parties. This measure may be applied in cases where
• - no written service agreements exist,
• - the level of documentation of service agreements is insufficient or
• - it is not ensured that they cannot be terminated by the counterparty due to resolution action being taken by the resolution authority.
• (c) Resolution authorities should consider applying this measure to allow material legal entities to be operationally independent where necessary to support a resolution strategy envisaging a break up or restructuring of the group or institution, including the use of a (partial) transfer tool.
• (d) If applying this measure, resolution authorities should ensure that these intragroup financing agreements and service agreements are accessible and enforceable within a short timeframe. If the relevant resolution strategy envisages the use of a (partial) transfer tool, resolution authorities should consider requiring agreements to be transferable to entities resulting from resolution action or to recognise the legal effects of statutory transfers.

1. Ülevaade

1.1 Viited

1.2 Tuvastatud nõuded

1.3 Seotud standardid

2. Tuvastatud nõuded

3. Seotud standardid

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/