HMT consults on transposition of BRRD II

Released 23 June 2020

HM Treasury (HMT) has launched a consultation seeking views on the UK’s approach to the transposition of BRRD II.

The Bank Recovery and Resolution Directive II (BRRD II) entered into force on 27 June 2019.

The Directive makes amendments to the original 2014 Bank Recovery and Resolution Directive (BRRD) provisions, in order to update the EU’s resolution policy and Minimum Requirements for Own Funds and Eligible Liabilities (MREL) framework.

The Directive must be transposed into national law by 28 December 2020.

The consultation will run until 11 August 2020.

Further information, including a link to the consultation document can be found at https://www.gov.uk/government/consultations/consultation-on-the-transposition-of-the-bank-recovery-and-resolution-directive-ii.

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