in force 2020-12-28 INSERTED+1,285 −0§
Amended by Regulation (EU) 2019/877 32019R0877
applies from: unknown (an inserted provision states its own application date only in prose)
Sources disagree — the text comparison found this change; the EU's own amendment metadata does not list it and the amending act's instructions do not mention it. All are shown; none is overruled.
Article 12f is an entirely new provision setting out how resolution entities must meet the minimum requirement for own funds and eligible liabilities on a consolidated basis at the resolution group level.
It further describes how the Board, together with the group-level resolution authority and the consolidating supervisor, determines this requirement for resolution entities in participating Member States, and how the Board decides which entities within certain resolution groups must comply with specific related provisions.
Cited: Art. 12f, v2
text before / after
inserted text (02014R0806-20201228)
Article 12f Application of the minimum requirement for own funds and eligible liabilities to resolution entities 1. Resolution entities shall comply with the requirements laid down in Articles 12c to 12e on a consolidated basis at the level of the resolution group. 2. The Board, after consulting the group-level resolution authority, if that authority is not the Board, and the consolidating supervisor shall determine the requirement referred to in Article 12a(1) for a resolution entity established in a participating Member State at the consolidated resolution group level on the basis of the requirements laid down in Articles 12c to 12e and on the basis of whether the third-country subsidiaries of the group are to be resolved separately under the resolution plan. 3. For resolution groups identified in accordance with point (b) of point (24b) of Article 3(1), the Board shall decide, depending on the features of the solidarity mechanism and of the preferred resolution strategy, which entities in the resolution group are to be required to comply with Article 12d(3) and (4) and Article 12e(1), in order to ensure that the resolution group as a whole complies with paragraphs 1 and 2 of this Article, and how such entities are to do so in conformity with the resolution plan.