The Bank Recovery and Resolution Directive (2014/59/EU) (the “BRRD”) was amended by Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 (“BRRD II”), which was published in the Official Journal on 7 June 2019 and entered into force on 27 June 2019. E.U. Member States are required to implement BRRD II by 28 December 2020.
The FMLC sent this letter to HM Treasury to highlight some issues of legal uncertainty in respect of Article 59 of BRRD II which the FMLC has set out in its letter of 20 November 2019 to the European Commission.
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