Commission corrigendum to Delegated regulation on exclusion from application of write-down or conversion powers under BRRD

The Council of the EU has published a cover note from the European Commission (the Commission) enclosing the text of the corrigendum to the Commission Delegated Regulation specifying further circumstances where exclusion from the application of write-down or conversion powers is necessary under Article 44(3) of the Bank Recovery and Resolution Directive (BRRD). The corrigendum amends Article 9 of the Delegated Regulation which concerns the exclusion on the grounds of avoidance of a decrease in value under Article 44(3)(d) of the BRRD. If the European Parliament does not object to the Delegated Regulation, it will enter into force 20 days after its publication in the Official Journal of the EU.

View Corrigendum to Commission Delegated Regulation (EU) …/… of 4.2.2016 specifying further the circumstances where exclusion from the application of write-down or conversion powers is necessary under Article 44(3) of 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, 20 May 2016