Early Intervention Measures (EIMs): The EU Framework in Force and Its Proposed Amendment

340 The objective of this article is to briefly albeit systematically present the EU framework governing early intervention measures (EIMs) in the banking sector. It is structured in four sections as follows: Section A contains a general overview, discussing early intervention within the system of bank crisis prevention, the related international financial standards and the sources of rules under EU law (namely, the BRRD, the SRMR and the SSMR). Section B , on the rules of the BRRD, sets out their system, and then discusses the EBA Guidelines on triggers for use of EIMs, the consistency of Article 104 CRD IV with Article 27 BRRD and the relationship between precautionary recapitalisation and EIMs. In turn, Section C , on the rules of the SRMR, analyses Article 13 SRMR and then presents the exercise by the ECB of its power to apply EIMs, the obligations imposed on the ECB and the relevant NCA and the SRB’s role, as well as the powers of the SRB. Finally, Section D discusses the way forward on the basis of the proposed amendments under the CMDI framework reform package.