Article 66 | Delegated Regulation 2016/1075 | judict

Updated 05/02/2025

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BRRD Tool Delegated Regulation 2016/1075

Article 66

Article 66 - Delegated Regulation 2016/1075

Article 66

Development and circulation of the draft group resolution plan and resolvability assessment

1.

The resolution authorities of subsidiaries shall provide to the group-level resolution authority their contributions to the group resolution plan and resolvability assessment in a timely manner and in any event by the time limit specified in the joint decision timetable pursuant to Article 61(2)(e).

2.

The group-level resolution authority shall develop the draft group resolution plan in accordance with Article 12 of Directive 2014/59/EU, taking into account any contributions submitted by the resolution authorities of subsidiaries.

3.

The group-level resolution authority shall circulate the draft group resolution plan and resolvability assessment to the college members in a timely manner, however no later than within the time limit specified under Article 61(2)(f).

Table of contents

CHAPTER I - COMMON PROVISIONS AND RECOVERY PLANS (Article 1-21)

CHAPTER II - RESOLUTION PLANS (Article 22-32)

CHAPTER III - INTRA GROUP FINANCIAL SUPPORT (Article 33-36)

CHAPTER IV - INDEPENDENCE OF VALUERS (Article 37-41)

CHAPTER V - RESOLUTION (Article 42-49)

CHAPTER VI - RESOLUTION COLLEGES (Article 50-109)

SECTION I - Operational organisation of resolution colleges (Article 50-60)

SECTION II - Group resolution planning joint decisions (Article 61-85)

Subsection 1 - Joint decision process on group resolution plan and resolvability assessment (Article 61-72)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 73-75)

Subsection 3 - Joint decision on measures to address substantive impediments to resolvability (Article 76-83)

Subsection 4 - Process in the absence of joint decision on measures to address substantive impediments to resolvability (Article 84-85)

SECTION III - Joint decision process on minimum requirements for own funds and eligible liabilities (Article 86-96)

SECTION IV - Cross-border group resolution (Article 97-109)

CHAPTER VII - FINAL PROVISIONS (Article 110)