Technical Support for National Handbooks for Estonia, Lithuania, and Latvia

The Commission is supporting the Estonian Financial Supervision and Resolution Authority, the Bank of Lithuania, and the Bank of Latvia through a technical support for the development of their National Handbooks in line with the good practices established in the Common Index by the Single Resolution Board (SRB). National Handbooks are designed to ensure the implementation of the targeted resolution strategies and the SRB resolution schemes at the national level by operationalisation of resolution tools.

Context

The National Handbook serves as a comprehensive guide outlining the step-by-step process to be undertaken by the NRA when applying a resolution tool in compliance with the EU’s recovery and resolution framework. It serves a dual purpose: firstly, it establishes a clear procedure that must be followed and secondly, it identifies potential obstacles to the implementation of resolution tools, as well as areas requiring preparatory work.

Support delivered

Through the execution of the project, Deloitte will develop deliverables and methodology fit for the Beneficiaries considering the applicable regulatory requirements, legal environment and mandate, statutory tasks and responsibilities, professional secrecy, and specifics of the Beneficiaries. The deliverables include As-Is report, To-Be report, National Handbooks and capacity building activities.

Results achieved

The objective of the project is to contribute to the capacity of the National Resolution Authorities’ application of the recovery and resolution framework and its preparedness to deal effectively with a credit institution in distress.