QA2022-31 - Legacy reference

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Feb 01, 2024
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Resolution Reporting Subject Matter Guidance
Guidance Documents Issuances-under-non-EU27-law
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QA2022-31

Question


The LDR guidance for T 01.00 c014x refers to Article 45 (5) of Directive 2014/59/EU, which is no longer in place. Could you please provide an updated reference or amended instructions?


Response


The LDR guidance for 2023 will be amended accordingly: 'c014x – Of which Issuances under non-EU MS jurisdiction/law, excluding intragroup These shall include the gross amounts of liabilities governed by the law of a third country and/or issued by group entities established in third countries. Intragroup liabilities shall be excluded. Note that where the resolution authority has confirmed that it is satisfied, pursuant to Article 45 and Article 55 BRRD2, that any decision of a resolution authority to write down or convert a liability would be effective under the law of that third country, that liability shall not be reported under this heading.'