On March 6, 2015, the EBA launched a consultation on proposed RTS on the detailed records of financial contracts that banks and relevant investment firms will need to maintain. Under the BRRD, resolution authorities may temporarily suspend the termination rights of any party to a contract with a firm that is under resolution. The proposed draft RTS set out the minimum information on financial contracts which a firm will be obliged to keep detailed information of. Member states would be able to impose additional requirements if appropriate. The consultation closes on June 6, 2015.
The consultation paper is available at: http://www.eba.europa.eu/documents/10180/1006126/EBA-CP-2015-04+%28CP+on+Detailed+records+of+financial+contracts%29.pdf.
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