QA2017-65 - Guidance T01.00 - T08.00

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Feb 01, 2024
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QA2017-65

Question


Regarding the “secured liabilities”: according to the EBA Q&As 2016_2951 and 2015_1779, we understand that the liabilities guaranteed by third party (e.g. also the state guaranteed bonds) are not be considered as "secured liabilities" in the meaning of the art. 44/2/b of the BRRD, and are thus not excluded from bail-in, unless the Resolution Authority would exercise its power to exclude them. The secured liabilities should be only the ones secured/guaranteed by assets of the institution. Could you kindly confirm our understanding?


Response


For the purposes of the Liability Data Report, the EBA view on secured liabilities can indeed serve as a basis for determining the secured liabilities.