EUROPEAN UNION: European Banking Authority Draft Regulatory Technical Standard on a Minimum Set of the Information on Financial Contracts

Monday March 9 2015

The EBA has invited comments on proposals put forward regarding Directive 2014/59/EU (BRRD) that mandates the EBA (Article 71(8)) to develop draft Regulatory Technical Standards (RTS) specifying the following elements for the purposes of the Article 71(7):

• A minimum set of the information on financial contracts that should be contained in the detailed records; and
• The circumstances in which the requirement to maintain detailed financial records should be imposed on institutions and relevant entities1.

In accordance with this mandate the draft RTS specifies the circumstances in which the requirement to maintain detailed records shall be imposed (Article 2) and lists the information which should be kept at a minimum in the detailed records (Article 3 and the Annex).

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