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The EU banking package was adopted on May 20, 2019 by way of two directives (the Capital Requirements Directive V (CRD V) and the Bank Recovery and Resolution Directive II (BRRD II)) and two regulations (the Capital Requirements Regulation II (CRR II) and the Single Resolution Mechanism Regulation II (SRMR II)).
In this article, we consider the measures that PFI contractors are being asked to adopt, give our view on the practical steps PFI contractors (and their private sector counterparties) should take in response and consider the legal effect of the IPA Guidance Note and any steps taken by the parties as a consequence of it.
In a further response to the COVID-19 (coronavirus) crisis, the European Central Bank (ECB) has launched a €750 billion Pandemic Emergency Purchase Programme (PEPP).
Significant volume of material published by the UK regulators, the four key headlines.
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