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Legislation

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Applicable legislation and main international standards:

Act CXXXIX of 2013 on the Magyar Nemzeti Bank

Act XXXVII of 2014 on the further development of the system of institutions strengthening the security of the individual players of the financial mediating system

Government Decree 363/2014 (XII. 30.) on the eligible costs incurred during the application of resolution tools

Government Decree 217/2014 (VIII. 28.)on the business reorganisation plan related to bail-in

Government decree 205/2014. (VIII.15.) on the individual rules regarding the independent valuers and their selection based on the further development of the system of institutions strengthening the security of the individual players of the financial mediating system

Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council  (BRRD)

Technical standards and guidelines of the European Banking Authority concerning resolution

Financial Stability Board: Key Attributes of Effective Resolution Regimes for Financial Institutions

Options and National Discretions:

The BRRD contains a large number of national discretions and options which may be applied on the basis of national circumstances.

Tables of information (please click here to see the content of the tables)