- Funding Programme
- Structural Reform Support Programme (SRSP)
Crisis Management Manual for the Czech National Resolution Authority
The European Commission supported the Czech National Bank (CNB) in its role as the National Resolution Authority (NRA) with the preparation of a Crisis Management Manual, containing detailed resolution guidelines for financial institutions in the Czech Republic.
The Bank Recovery and Resolution Directive introduced a new way of managing the (potential) failure of financial institutions.
To adapt to the new regulatory framework, the CNB/NRA needed to develop and adjust a number of operational procedures, processes and methodologies.
The Commission provided support in implementing the requirements under the Bank Recovery and Resolution Directive (BRRD). The support measures consisted of:
- Mapping of resolution procedures and processes;
- Drafting practical steps and decision making processes for the application of the resolution tools;
- Drafting notification and decision making templates;
- Simulation exercise of the bail-in resolution tool.
The Crisis Management Manual and the specialised training provided will enable CNB/NRA to operationalise all the necessary steps, processes and procedures that are needed if a financial institution must be resolved, in collaboration with other relevant authorities.
A credible, quick and efficient application of resolution tools and powers will increase the protection of public funds and help to maintain financial stability while minimizing the potential impacts on the real economy.