The European Commission is looking to clarify the rules around “precautionary recapitalisations”, having published a review of the implementation of the Bank Recovery and Resolution Directive (BRRD) in the European Union.
There are a number of rules set out in the BRRD that are intended to limit the use of precautionary recapitalisation — a process enabling solvent banks to draw on state aid without triggering resolution — in Europe. For example, the state capital injections can only address capital
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