ICMA responds to EBA consultation on contractual recognition of stay powers under BRRD

 

14 August 2020 The ICMA Legal & Documentation Committee and the ICMA European Repo and Collateral Council submitted a response to the EBA’s consultation paper on draft RTS on the contractual recognition of stay powers under Article 71a(5) of Directive 2014/59/EU (BRRD) expressing concerns with certain elements of EBA’s proposed RTS and urging EBA to consider further alignment with the FSB’s Principles for Cross Border Effectiveness of Resolution Actions.
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