http://www.legislation.gov.uk/uksi/2016/1239/article/42

The Bank Recovery and Resolution Order 2016

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Statute Law Database

BANKS AND BANKING

FINANCIAL SERVICES AND MARKETS

2024-02-15

Expert Participation

2023-12-14

This Order implements in part Directive 2014/59/EU of the European Parliament and of the Council of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms (OJ L173, 12.6.2014, p.190) (“recovery and resolution directive”). The recovery and resolution directive requires EEA states to have powers to manage the failure of credit institutions and investment firms and their group companies as an alternative to insolvency, in order to ensure that critical functions continue to be performed.