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QA2019-82 - Senior non-preferred liabilities

QA2019-82 - Senior non-preferred liabilities

Feb 01, 2024
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Resolution Reporting Subject Matter Guidance
Guidance Documents Senior-Non-Preferred-Liabilities
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QA2019-82

Question


3. What is the correct article reference regarding new category of Senior non-preferred liabilities? According to the Guidance on the Liability Data Report, non-preferred liabilities are debt instruments that meet conditions laid down in Article 108 of Directive 2014/59/EU. However, Article 108 of BRRD refers to the Ranking of deposits in insolvency hierarchy.


Response


We confirm that the reference for the new category of Senior Non-preferred is the updated article 108 of Directive 2014/59/EU as amended by the directive (EU) 2017/2399 of 12 December 2017 (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32017L2399 ) .