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The provisional agreement to amend the BRRD also proposes a discretionary cap for the requirement for subordinated MREL at 27% of a bank's total risk exposure.
Invoking article 32(b) of the BRRD, the ECB waved the 8% requirement leading up to a bailout by the Italian treasury.
Other theoretical work by Alesina and Passarelli (2017) suggested that as time passes, voters will increasingly perceive the new bail-in regulations contained in the BRRD as the new status quo.
The European answer to this issue is the new "minimum requirement of own funds and eligible liabilities" ("MREL") for all EU banks in line with the BRRD requirements, further specified by European Banking Authority ("EBA") Regulatory Technical Standards.
Conversely, the legal instrument under article 44 paragraph 3 of the BRRD is a discretionary power given to the Resolution Authorities so that they can decide, after evaluation, when it is appropriate not to use the bail-in tool due to the possibility of generating a contagion that, in turn, produces financial instability.
The adopted Delegated Regulation is based on the draft regulatory technical standard of the European Banking Authority (EBA), which the commission amended to ensure compliance with the BRRD.
Eurozone countries and other Member States which choose to join the Banking Union implement the BRRD through the Single Resolution Mechanism (SRM) for significant and cross-border banks.
The so-called bank recovery and resolution directive (BRRD) imposes losses on shareholders and creditors of ailing lenders, in a process known as "bail-in", before any taxpayers' money can be tapped in a bank rescue.
Moody's expects that Czech banks, as a member of the European Union, will introduce bank resolution legislation in line with the EU Bank Recovery and Resolution Directive (BRRD).
In May 2014 the European Union finally adopted the Bank Recovery and Resolution Directive (BRRD).
However we estimate this could cost up to 10% of the sector's 2015 net profit illustrating the potential of a single resolution to dent the performance of even large diversified banking systems under the EU Bank Recovery and Resolution Directive (BRRD) regime.
animal AST GGT ALP BrrD BrrI BrrT (U/L) (U/L) (U/L) (mg/100ml) (mg/100ml) (mg/100ml) 1 120 88 790 0,99 2,1 3,09 2 542 103 1.087 1,75 7,96 9,71 3 338 55 1.537 1,14 5,18 6,32 ref.
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