GovWire

The PIR reviews the regulations implementing the Bank Recovery and Resolution Directive (Directive 2014/59/EU or BRRD) established a common framework across the EU to the recovery and resolution of banks and investment firms, bringing the EUs framework, including the UK at the time, in line with international standards set out by the G20 Financial Stability Board (FSB).

The RPC considers the PIR to be proportionate, and the evidence and analysis is sufficiently robust to support the proposal to retain the regulations.