EIOPA staff paper on comparing recovery and resolution frameworks in banking and insurance

The European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD) was adopted in September 2021 as part of the Solvency II (SII) review package. Since then it has been under consideration by European Parliament and the Council of the European Union.         

In order to provide further understanding on the proposal, and conscious of the current discussions, EIOPA conducted a comparative analysis of the IRRD and the Bank Recovery and Resolution Directive (BRRD) in order to identify  similarities and differences between the two legal texts, with the aim to understand the rationale behind them.