Erscheinung:29.07.2019 | Topic Recovery/resolution Resolution: BaFin publishes final version of the Circular regarding the Minimum Requirements for Implementing a Bail-in (MaBail-in)
BaFin has published the final version of the Circular regarding the Minimum Requirements for Implementing a Bail-in (MaBail-in).
This Circular is addressed to all institutions under the responsibility of BaFin as national resolution authority, provided that BaFin has informed institutions in the context of resolution planning that it has to be complied with.
The Circular was under public consultation in February/March 2019. The comments received during the public consultation have been discussed with representatives from institutions and the bank associations in the scope of a workshop meeting. The final draft of the Circular has been submitted to the National Regulatory Control Council (NKR—Normenkontrollrat) for approval.
The Circular sets out the minimum requirements for information to be provided and for the technical and organisational resources needed to ensure the provision of information. These requirements are important prerequisites for a swift and precise implementation of the WDCCI power (Write Down and Conversion of Capital Instruments) and the bail-in tool pursuant to Sections 89 and 90 of the German Act on the Recovery and Resolution of Institutions and Financial Groups (SAG) and Articles 21 and 27 of the Regulation on the Single Resolution Mechanism (SRMR).
