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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.
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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.
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