On 13 April 2018, the FMLC published a paper entitled Bank Recovery and Resolution Directive: Legal Uncertainties in the Proposal to Amend Moratorium Powers (the “FMLC Paper“). Stakeholders subsequently contacted the FMLC to draw attention to the latest proposal being considered by the European Parliament which suggests a two-day pre-resolution moratorium, followed by a ten-day break before the in-resolution moratorium begins.
The FMLC sent a letter to Gunnar Hokmark, MEP, the Rapporteur for the BRRD in the European Parliament, highlighting the practical uncertainties of this proposal.
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