Comments on EBA Consultation Paper on Standards on the contractual recognition of stay powers under Article 71a(5) BRRD

13 August 2020

GBIC has answered the European Banking Authority's (EBA) consultation on a Regulatory Technical Standard on the contractual recognition of stay powers under Article 71a(5) BRRD. The draft paper of the EBA raises several concerns, for example impractical requirements regarding the specific content and format of the contractual recognition clauses and the failure to address the issue of retroactivity

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