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  • 01-07-2015

Directive 2014/59/EU of the European Parliament and of the Council, establishing a framework for the recovery and resolution of credit institutions and investment firms (BRRD) was adopted on 15 May 2014. By 31 December 2014, Member States were required to adopt and publish the laws, regulations and administrative provisions necessary to comply with it.

The BRRD is part of the second pillar of the European Union’s Banking Union. The following article gives the full insight on the BRRD that aims to provide banking and financial institutions with a set of resolution tools aiming to prevent insolvency or, when insolvency occurs, to minimise negative repercussions.

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