The EBA published a Handbook on independent valuers for resolution purposes
The European Banking Authority (EBA) today published a Handbook on independent valuers for resolution purposes. The Handbook enhances convergence by providing best practices, high-quality methodologies and processes for the selection and appointment of independent valuers for resolution purposes, as well as examples on the application of these methodologies under some scenarios.
The EBA has developed this Handbook with the view of improving the process of selecting independent valuers and facilitating its implementation by resolution authorities. The Handbook also identifies safeguards which could mitigate the effects of a potential conflict of interest hampering the independence of the valuer.
The Handbook's structure follows a chronological order, covering actions before, during and after the appointment of the independent valuer. The preparatory arrangements include actions, such as market research, framework contracts and internal procedures. The Handbook includes specific sections dealing with the assessment of the valuer's independence and the application of safeguards. Finally, after the appointment of the independent valuer, the Handbook includes aspects such as the maintenance of policies and procedures to identify and manage conflicts of interest.
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