The European Bank Recovery and Resolution Directive: Another Shock for Pension Funds?

    View Author June 2015

    Just as the storm clouds gather over Greece and institutional investors run for cover again, another less-reported development in the banking sector has appeared on the horizon. Unlike the European Market Infrastructure Regulation (EMIR), where the pension fund central clearing exemption has just been extended to August 2017, little attention seems to have been given to the potential impact of the European Bank Recovery and Resolution Directive (BRRD) on pension funds.