European Commission 23 March 2016, Commission Delegated Regulation (EU) 2016/1075 of 23 March 2016 supplementing Directive 2014/59/EU of the European Parltime and of the Council with regard to regulatory technical standards specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent authority is to assess as regards recovery plans and group recovery plans, the conditions for group financial support, the requirements for independent valuers, the contractual recognition of write-down and conversion powers, the procedures and contents of notification requirements and of notice of suspension and the operational functioning of the resolution colleges (Text with EEA relevance)

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CHAPTER I. COMMON PROVISIONS AND RECOVERY PLANS
SECTION I. Common provisions
Article 1. Subject matter
Article 2. Definitions
SECTION II. Content of recovery plans
Article 3. Information to be included in a recovery plan
Article 4. Summary of the key elements of the recovery plan
Article 5. Governance
Article 6. Strategic analysis
Article 7. The description of entities covered by the recovery plan
Article 8. Recovery options
Article 9. Actions, arrangements and measures under recovery options
Article 10. Impact assessment
Article 11. Feasibility assessment
Article 12. Continuity of operations
Article 13. Cross references
Article 14. Communication and disclosure plan
Article 15. Preparatory measures
SECTION III. Assessment of recovery plans
Article 16. Completeness of recovery plans
Article 17. Quality of recovery plans
Article 18. Implementation of the arrangements proposed in the recovery plans
Article 19. Recovery options
Article 20. Specific requirements for group recovery plans
Article 21. Nature of the entity or entities being assessed
CHAPTER II. RESOLUTION PLANS
SECTION I. Content of resolution plans
Article 22. Categories of information to be included in resolution plans
SECTION II. Assessment of resolvability
Article 23. Stages of assessment
Article 24. Feasibility and credibility of liquidation under normal insolvency proceedings
Article 25. Identification of a resolution strategy
Article 26. Assessment of feasibility of a resolution strategy
Article 27. Assessment of feasibility: structure and operations
Article 28. Assessment of feasibility: financial resources
Article 29. Assessment of feasibility: information
Article 30. Assessment of feasibility: cross-border issues
Article 31. Assessment of feasibility: other potential impediments
Article 32. Assessment of credibility of a resolution strategy
CHAPTER III. INTRA GROUP FINANCIAL SUPPORT
Article 33. Prospect to redress financial difficulties
Article 34. Terms of the support
Article 35. Liquidity and solvency of the providing entity
Article 36. Resolvability of the providing entity
CHAPTER IV. INDEPENDENCE OF VALUERS
Article 37. Definitions
Article 38. Elements of independence
Article 39. Qualifications, experience, ability, knowledge and resources
Article 40. Structural separation
Article 41. Material common or conflicting interests
CHAPTER V. RESOLUTION
SECTION I. Contractual recognition and conversion powers
Article 42. Definitions
Article 43. Liabilities to which the exclusion from the obligation to include the contractual term referred to in Article 55(1) of Directive 2014/59/EU applies
Article 44. Contents of the contractual term required by Article 55(1) of Directive 2014/59/EU
SECTION II. Notifications and notice of suspension
Article 45. General requirements for notifications
Article 46. Notification by the management body to a competent authority
Article 47. Communication of the competent authority to the resolution authority of the received notification
Article 48. Notification of assessment that an institution meets the conditions for resolution set out in points (a) and (b) of Article 32(1) of Directive 2014/59/EU
Article 49. Notice
CHAPTER VI. RESOLUTION COLLEGES
SECTION I. Operational organisation of resolution colleges
Article 50. Mapping and identification of resolution college members and possible observers
Article 51. Third country resolution authorities as observers in the resolution college
Article 52. Communication with the Union parent undertaking
Article 53. Establishment and update of contact lists
Article 54. Elements of written arrangements and procedures for the functioning of the resolution college
Article 55. Establishment and update of written arrangements and procedures for the functioning of the resolution college
Article 56. Operational aspects of college meetings and other activities
Article 57. Exchange of information
Article 58. Communication policy
Article 59. Coordination of external communication
Article 60. Emergency situations
SECTION II. Group resolution planning joint decisions
Subsection 1. Joint decision process on group resolution plan and resolvability assessment
Article 61. Planning of the steps of the joint decision process
Article 62. Elements of the joint decision timetable
Article 63. Preliminary dialogue on the resolution strategy
Article 64. Information from the Union parent undertaking
Article 65. Transmission of information from the group-level resolution authority
Article 66. Development and circulation of the draft group resolution plan and resolvability assessment
Article 67. Consultation with resolution college members
Article 68. Discussion with the Union parent undertaking
Article 69. Dialogue on the draft resolution plan and resolvability assessment
Article 70. Drafting the joint decision on group resolution plan and resolvability assessment
Article 71. Reaching joint decision on the group resolution plan and resolvability assessment
Article 72. Communication of the joint decision and summary of the group resolution plan to the Union parent undertaking
Subsection 2. Process in the absence of joint decision on group resolution plan and resolvability assessment
Article 73. Partial disagreement
Article 74. Elements of communication of individual decisions
Article 75. Communication of individual decisions in the absence of a joint decision
Subsection 3. Joint decision on measures to address substantive impediments to resolvability
Article 76. Suspension of the joint decision process on the group resolution plan and resolvability assessment
Article 77. Planning of the steps of the joint decision process on measures to address substantive impediments to resolvability
Article 78. Consultation and communication of the report
Article 79. Submission of observations of the Union parent undertaking and consultation with the authorities
Article 80. Drafting the joint decision on measures to address substantive impediments to resolvability
Article 81. Reaching the joint decision
Article 82. Communication of the joint decision
Article 83. Monitoring the application of the joint decision
Subsection 4. Process in the absence of joint decision on measures to address substantive impediments to resolvability
Article 84. Elements of communication of individual decisions
Article 85. Communication of individual decisions in the absence of joint decision
SECTION III. Joint decision process on minimum requirements for own funds and eligible liabilities
Subsection 1. Joint decision process
Article 86. Planning of the joint decision on minimum requirements for own funds and eligible liabilities
Article 87. Proposal at consolidated and Union parent undertaking level
Article 88. Proposal at subsidiary level
Article 89. Dialogue on the proposed minimum requirements for own funds and eligible liabilities
Article 90. Drafting the joint decision on minimum requirements for own funds and eligible liabilities
Article 91. Reaching the joint decision on minimum requirements for own funds and eligible liabilities
Article 92. Communication of the joint decision on minimum requirements for own funds and eligible liabilities
Article 93. Monitoring the application of the joint decision on minimum requirements for own funds and eligible liabilities
Subsection 2. Process in the absence of a joint decision at consolidated level
Article 94. Joint decisions taken at each subsidiary level in the absence of a joint decision at consolidated level
Article 95. Elements of communication of individual decisions
Article 96. Communication of individual decisions in the absence of joint decision
SECTION IV. Cross-border group resolution
Subsection 1. Decision on the need for a group resolution scheme under Articles 91 and 92 of Directive 2014/59/EU
Article 97. Process for deciding on the need for a group resolution scheme
Article 98. Dialogue on the need for a group resolution scheme
Article 99. Preparation and communication of the draft assessment or draft decision on the need for a group resolution scheme
Article 100. Consultation on the draft assessment or decision on the need for a group resolution scheme
Article 101. Finalisation of the assessment or the decision on the need for a group resolution scheme
Subsection 2. Joint decision process on the group resolution scheme
Article 102. Process of the joint decision on the group resolution scheme
Article 103. Preparation and communication of the draft group resolution scheme
Article 104. Consultation on the group resolution scheme
Article 105. Preparation and communication of the joint decision on the group resolution scheme
Article 106. Finalising the joint decision on the group resolution scheme
Article 107. Communication of the joint decision to the college
Subsection 3. Disagreements and decisions taken in the absence of a joint decision
Article 108. Notification in case of disagreement
Article 109. Decision-making process between non-disagreeing resolution authorities
CHAPTER VII. FINAL PROVISIONS
Article 110. Entry into force

8.7.2016

Official Journal of the European Union

L 184/1

COMMISSION DELEGATED REGULATION (EU) 2016/1075

of 23 March 2016

supplementing Directive 2014/59/EU of the European Parltime and of the Council with regard to regulatory technical standards specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent

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