THE EBA AT A GLANCE
ery and resolution directive (BRRD), the deposit guaran-
tee schemes directive (DGSD), the revised directive on
payment services (PSD2), the mortgage credit directive
(MCD), the payment accounts directive (PAD), the regu-
lation on key information documents for packaged re-
tail and insurance-based investment products (PRIIPs),
the fourth anti-money laundering directive (AMLD), the
electronic money directive (EMD), the EU market infra-
structure regulation (EMIR), the financial conglomerates
directive (FICOD), the directive on central securities de-
positories (CSD), the markets in financial instruments di-
rective (MiFID II) and the interchange fee regulation (IFR).
The common framework developed by the EBA on the
basis of EU legislation creates the conditions for all insti-
tutions operating in the EU single market to efficiently
and safely fulfil their role of lending into the real economy.
Recovery, resolution and
deposit guarantee scheme
The BRRD (Directive 2014/59/EU) deals with crisis prevention,
management and resolution of failing banking institutions and
investment firms. The ultimate objective of this framework is to
preserve financial stability, reduce moral hazard, protect customers
and critical financial services, save public money and ensure the
smooth functioning of the internal market for financial services.
The BRRD assigns various regulatory and oversight tasks to the
EBA in order to make this framework function in an efficient and
consistent manner across the EU. In particular, it requires the
EBA to develop a wide range of technical standards, guidelines
and reports on key areas of recovery and resolution, with the aim
of ensuring effective and consistent procedures across the EU, in
particular with respect to cross-border financial institutions.
This framework is complemented by the DGSD, which requires
the EBA to develop additional guidelines and reports on various
matters affecting how deposit guarantee schemes work.
Complementary regulatory initiatives addressing financial
institutions other than banks, which assign further tasks to the
competent ESAs, are being developed.