Bank Recovery and Resolution Directive
Formally the Directive on the Recovery and Resolution of Credit Institutions and Investment Firms (Directive 2014/59/EU).
The BRRD sets out the framework for bank recovery and resolution in the EU. It sets out some arrangements to deal with failing banks at the Member State level and arrangements to facilitate cooperation in tackling cross-border banking failures.
The majority of the provisions in the BRRD came into effect from the start of 2015.