Art. 12j · Breaches of the minimum requirement for own funds and eligible liabilities

Version in force 28 December 2020, Inserted +1,004 −0§

Amended by Regulation (EU) 2019/877 32019R0877 on EUR-Lex (external, EUR-Lex)

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Article 12j is new text setting out how a breach of the minimum requirement for own funds and eligible liabilities is to be addressed, listing powers under Articles 10, 10a, 104 of Directive 2013/36/EU, early intervention under Article 13, and administrative penalties under Articles 110 and 111 of Directive 2014/59/EU, alongside a possible failing-or-likely-to-fail assessment under Article 18.

It also adds a requirement that the Board, resolution authorities, and competent authorities of participating Member States consult one another when exercising these respective powers.

Cited: Art. 12j, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 12j
Breaches of the minimum requirement for own funds and eligible liabilities
1. Any breach of the minimum requirement for own funds and eligible liabilities referred to in Article 12f or Article 12g shall be addressed on the basis of at least one of the following:
(a) powers to address or remove impediments to resolvability in accordance with Article 10;
(b) powers referred to in Article 10a;
(c) measures referred to in Article 104 of Directive 2013/36/EU;
(d) early intervention measures in accordance with Article 13;
(e) administrative penalties and other administrative measures in accordance with Articles 110 and 111 of Directive 2014/59/EU.
Furthermore, the Board or the ECB may carry out an assessment of whether the institution is failing or is likely to fail, in accordance with Article 18.
2. The Board, resolution authorities and competent authorities of participating Member States shall consult each other when they exercise their respective powers referred to in paragraph 1.