Consultation outcome

Transposition of the Bank Recovery and Resolution Directive

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

This consultation has concluded

Download the full outcome

Detail of outcome

This document summarises the responses received and outlines the government’s response. In order to comply with the requirements of the Bank Recovery and Resolution Directive (BRRD), the directive has now been transposed into UK law. The government’s transposition was informed by the responses to the consultation and would like to thank all those who commented and gave their feedback on the consultation.

Original consultation

Summary

This consultation seeks views on the transposition of the Bank Recovery and Resolution Directive.

This consultation ran from
to

Consultation description

The Bank Recovery and Resolution Directive (BRRD) entered into force on 2 July 2014. It establishes a common framework for the recovery and resolution of banks and investment firms across the EU. The Directive must be transposed into national law by 31 December 2014.

Transposition of the Directive into UK law will require a number of high-level policy decisions as well as operational ones. This consultation considers some of the key issues to be addressed in transposition and seeks views from industry and others potentially affected by the changes – in particular banks, investment firms and their counter-parties.

In addition to our consultation, the Prudential Regulation Authority and Financial Conduct Authority will be publishing consultations covering their transposition of the BRRD.

Documents

Transposition of the Bank Recovery and Resolution Directive

Banks and Building Societies (Depositor Preference and Priorities) Order 2014: draft for consultation

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The Banking Act 2009 (Recovery and Resolution Directive) (Amendment) Order 2014: partial draft for consultation

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Published 23 July 2014
Last updated 26 March 2015 + show all updates
  1. outcome published
  2. added impact assessment
  3. First published.