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Effective from Jun 16 2021 - Jun 15 2021 To view other versions open the versions tab on the right
In carrying out resolution procedures, the competent authority shall observe the following principles:
1.
The losses incurred by the SIFI under resolution shall be borne by its owners and then by its creditors, taking into account the order of priority of their legal and contractual debts.
2.
Accord the creditors of the SIFI subject to resolution a fair treatment to ensure that they will not receive a value less than the value they would receive if the SIFI is dissolved at the start of resolution procedures.
3.
Mitigate the potential negative impact arising from resolution procedures on other financial institutions within the financial group or sector.
4.
Avoid unnecessary depreciation of assets and reduce the cost of resolution procedures, as possible.
