Traduction de «Défaillance critique » (Français → Anglais) :

dangerous deficiencies constituting a direct and immediate risk to road safety or having an impact on the environment.

In cases where dangerous deficiencies have been found during a roadworthiness test and the authorisation of a vehicle for use on public roads has been suspended, that suspension should be recorded until the vehicle has passed a new roadworthiness test.

where the continuation of trading on the market is necessary to perform critical post-trade risk management functions when there is a need for the liquidation of financial instruments due to the default of a clearing member under the default procedures of a CCP and a CCP would be exposed to unacceptable risks as a result of an inability to calculate margin requirements.

This ensures that authorities have the tools to intervene sufficiently early and quickly in an unsound or failing institution so as to ensure the continuity of the institution's critical financial and economic functions while minimising the impact of an institution's failure on the economy and financial system.

(80)The Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty on the Functioning of the European Unionin order to: specifythe definitions of "critical functions" and "core business lines", specify the circumstances when an institution is failing or likely to fail specify the circumstances when the asset separation tool should be applied specify the liabilities excluded from the scope of application of the bail-in tool, specify the circumstances when exclusion from the bail-in tool is necessary to ensure the continuation of critical operations and core business lines, specify the criteria for ...[+++]the determination of the minimum amount of eligible liabilities required from institutions for the purposes of the bail in tool, specify the circumstances when, in application of the bail-in tool, existing shares should be cancelled and liabilities should be converted into shares, specify the circumstances when third country resolution proceedings should not be recognised, further specify the conditions under which it should be considered that the target level of the financing arrangements has significantly deviated from the initial level, adopt criteria aimed at adjusting the contributions to the financing arrangements to the risk profile of institutions, define obligations aimed at ensuring the effective payment of the contributions to the financing arrangements and specify the conditions for the mutual borrowing between national financing arrangements.

The proposed Union bank resolution framework will achieve the objectives of enhancing financial stability, reducing moral hazard, protecting depositors and critical banking services, saving public money and protecting the internal market for financial institutions.