Cleary Gottlieb Steen & Hamilton LLP updates

 
Beyond bail-in: reform of bank creditor hierarchy in European Union
Cleary Gottlieb Steen & Hamilton LLP
  • Banking
  • European Union
  • January 26 2018

The European Commission recently published a legislative proposal amending the Bank Recovery and Resolution Directive to modify creditor hierarchy in insolvency with a view to facilitating the resolution of EU credit institutions. The proposal, which was fast tracked, resulted in the adoption of EU Directive 2017/2399, which amends the Bank Recovery and Resolution Directive as regards the ranking of debt instruments in insolvency.

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