Legislation

The management of the financial resources in the Crisis Resolution Fund is governed by Section 209 and subsequent of Act No 374/2015 Coll., on Financial Crisis Prevention and Resolution.

By this Act, European Directive 2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms was implemented into Czech legislation. This directive is known as the Bank Recovery and Resolution Directive and under it abbreviation the BRRD. The second important regulation at European level is Commission Delegated Regulation (EU) 2015/63 of 21st October 2014 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to ex ante contributions to resolution financing arrangements.

Links to texts of above mentioned legislation can be found on the page Legislation in the section Guarantee System.