Group-level resolution authorities are required to establish resolution colleges to carry out the following tasks:
- prepare and approve a group resolution plan;
- assess the resolvability of the group and reduce or remove any obstacles to its resolvability;
- apply a minimum requirement for own funds and eligible liabilities (MREL);
- decide whether a group resolution scheme is required and, where necessary, implement group resolution actions;
- cooperate and coordinate with resolution authorities in third countries.
The following shall be members of the resolution college:
- the group-level resolution authority;
- the resolution authorities of each Member State in which a subsidiary covered by consolidated supervision is established;
- the resolution authorities of Member States where a parent undertaking of one or more institutions of the group are established;
- the resolution authorities of Member States in which significant branches are located;
- the consolidating supervisor and the competent authorities of the Member States where the resolution authority is a member of the resolution college;
- the competent ministries, where the resolution authorities which are members of the resolution college are not the competent ministries;
- the authority responsible for the deposit guarantee scheme of a Member State, where the resolution authority of that Member State is a member of the resolution college;
- the European Banking Authority (EBA), which has no voting rights.
The resolution authorities of third countries where a parent undertaking or an institution established in the Union has a subsidiary institution or a branch that would be considered to be significant were it located in the Union, may be invited to participate in the resolution college as observers.
European resolution colleges
Where a third-country institution or third-country parent undertaking has Union subsidiaries established in two or more Member States, or two or more Union branches that are regarded as significant by two or more Member States, the resolution authorities of the Member States where those Union subsidiaries are established or where those significant branches are located shall establish a European resolution college.
European resolution colleges shall perform the same tasks as a resolution college, and function in exactly the same way.