Examples of using Resolution authority in English and their translations into German
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The resolution authority for that institution, if different;
The French offering is additionally subject to supervision from French Prudential Supervision and Resolution Authority(ACPR) which operates under the Banque de France.
A resolution authority shall publish a notice specifying the terms and period of that suspension in accordance with the procedure specified in Article 75(4) where it exercises resolution powers, and in particular.
However, unlike in the case of recovery plans,responsibility for preparing resolution plans lies with the resolution authority rather than the individual banks.
If the resolution authority is not satisfied that the plan would achieve that objective the resolution authority shall notify the administrator of its concerns and require the administrator to amend the plan in way that addresses those concerns.
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Germany and the ECB agree on two of the three'pillars' of the eventual bankingunion- single supervisor and single resolution authority.
The group resolution scheme should be proposed by the group resolution authority and should be binding for the members of the resolution college.
Member States shall ensure that transfer, cancellation or modification shall not affect the operation of systems and rules of systems covered by Directive 98/26/EC,where resolution authority.
The resolution authority shall appoint asset managers to manage the assets transferred to the asset management vehicle with a view to maximising their value through eventual sale or otherwise ensuring that the business is wound down in an orderly manner.
The resolution authorities shall make a joint decision within a period of four months from the date of the transmission by the group level resolution authority of the information referred to in the second subparagraph of paragraph 1.
Where an institution meets the conditions for resolution and the resolution authority decides to apply a resolution tool to that institution, the resolution authority shall comply with the requirement set out in Article 51(1) before applying the resolution tool.
So this is supposed to be the first step in the direction of a banking union, where the European Central Bank would be the bank supervision, and then the European StabilityMechanism would be put together with the cross-border resolution authority in one institution.
When applying the bridge institution tool, a resolution authority shall ensure that the total value of liabilities transferred to the bridge institution does not exceed the total value of the rights and assets transferred from the institution under resolution or provided by other sources.
In particular, and without disregarding the necessary safeguards for the host member States, an efficient speedy resolution of a group that minimises the loss of value for the group should be ensured bygiving a prominent role to the group level resolution authority.
The EESC recommends the Commission to envisageappropriate measures for achieving coordination between the chosen resolution authority, the central bank and the ministry of finance(when none of the last two is chosen to be a resolution authority in the Member State) before conducting a resolution operation.
Increased number and size of credit institutions for which a participating DGS, in case the deposits held in that credit institution become unavailable or the credit institution becomes subject to resolution proceedings,is able to satisfy its obligation towards depositors or the resolution authority.
Member States shall provide the resolution authority that has made or intends to make the transfer with all reasonable assistance to ensure that the shares or other instruments of ownership or assets, rights or liabilities are transferred to the recipient in accordance with any applicable requirements of national law.
The BRRD foresees that resolution authorities may, as part of their resolution planning, require banks to make structural changes(e.g. to their legal andorganisational structure) if the resolution authority believes that it is necessary to address impediments to effective resolution. .
The group level resolution authority, in cooperation with the other authorities in the resolution college, may conclude that separate entity resolution best suits the structure and organisation of the group, and in that case each national authority would take independent decisions.
Subject to the first subparagraph, national financing arrangements shall not be obliged to lend to anothernational financing arrangement in those circonstances when the resolution authority of the Member State of the financing arrangement considers that it would not have sufficient funds to finance any foreseeable resolution in the near future.
Member States shall ensure that where a resolution authority exercises a power referred to in points(f) to(l) of Article 56(1), the reduction of principal or outstanding amount due, conversion or cancellation takes effect and is immediately binding on the institution under resolution and affected creditors and shareholders.
Without prejudice to the generality of the requirements under paragraph 1, the persons referred to in that paragraph shall be prohibited from divulging confidentialinformation received during the course of their professional activities, or from a resolution authority in connection with its functions, to any person or authority unless it is in summary or collective form such that individual institutions cannot be identified or with the express and prior consent of the resolution authority.
Member States shall, in appropriate cases, require institutions to maintain at all times sufficient authorised share capital sothat, in the event that the resolution authority exercised the powers referred to in points(f),(g) and(h) of Article 56(1) in relation to an institution or its subsidiaries, the institution is not be prevented from issuing sufficient new shares or instruments of ownership to ensure that the conversion of liabilities into ordinary shares or other instruments of ownership could be carried out effectively.
EBA shall publish the list of those resolution authorities.
When complying with the requirement set out in Article 51, resolution authorities shall exercise the write down power in a way that produces the following results.
When making a decision in accordance with paragraph 1, resolution authorities shall take into account the way in which the group structures its operations and in particular the extent to which funding, liquidity and risk are centrally managed.
The Commission notes, however, that in many jurisdictions resolution authorities are appropriately separated from supervisors and considers such separation to be important to minimise the risks of forbearance.
Resolution authorities may choose to apply the minimum requirement established in Article 39(1) and(3) on a consolidated basis to groups which are subject to consolidated supervision, provided that the following conditions are satisfied.
Resolution authorities shall take the decision to apply the minimum requirement on a consolidated basis pursuant to paragraph 1 of this Article in the course of developing and maintaining resolution plans pursuant to Article 9 of this Directive.
Quite correctly, in Section 4 the Commission states that in the event of a failure a coordinated action is necessary,and that"the measures outlined in Section 2 will ensure that the resolution authorities have the same tools and powers.