The European Bank Recovery and Resolution Directive (BRRD) is a legislative framework, adopted in 2014, and taking effect in 2016. The framework aims to ensure that banks in the European Union can be resolved in an orderly fashion in the event of an impending failure. The BRRD sets out uniform rules and procedures for the resolution of failing banks, including measures to protect taxpayers and depositors, as well as provisions to ensure that shareholders and creditors contribute to the costs of resolution. The directive also sets out the powers of the resolution authority and the responsibilities of the banks in relation to resolution planning and the submission of resolution plans.