In the context of EBA’s tasks of contributing to ensuring a coherent and coordinated crisis management and resolution regime in the Union, EBA should coordinate and oversee Union-wide crisis management simulation exercises. Those simulations should cover the coordination and cooperation between competent authorities and resolution authorities during the deterioration of the financial situation of institutions and entities, testing the application of the toolbox in recovery and resolution planning, early intervention, and resolution in a holistic manner. Those crisis simulation exercises should consider in particular the cross-border dimension in the interaction between the relevant authorities and the application of the available tools and powers. Where relevant, the crisis simulation exercises should also capture the adoption and implementation of resolution schemes within the banking union, pursuant to Regulation (EU) No 806/2014.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
