European regulators urge market to provide practical resolution framework for debt instruments

The European Banking Authority (EBA) and the European Securities and Markets Authority (Esma) published a joint statement on May 30, encouraging institutions, market and resolution authorities to properly consider retail holders of debt financial instruments subject to the Bank Recovery and Resolution Directive (BRRD) when carrying out their respective tasks. The distribution of debt instruments issued by financial institutions to retail clients may raise significant consumer protection issues