Article 6
Progress report
1. The progress report to be submitted to the resolution authority pursuant to Article 52(10) of Directive 2014/59/EU shall include a review and assessment of the progress of the implementation of business reorganisation plan, covering at least the following:
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(a) |
the milestones that are met, the measures that are realised and how their impact compares to that envisaged by the business reorganisation plan; |
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(b) |
the performance of the institution or entity and a comparison with the forecasts of the business reorganisation plan and previous progress reports; |
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(c) |
the reasons why any milestones or performance indicators have not been achieved and proposals to remedy the delays or shortfalls; |
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(d) |
any other issues arising in the execution of the business reorganisation plan that may prevent the restoration of the long-term viability of the institution or entity referred to in points (b), (c) and (d) of Article 1(1) of Directive 2014/59/EU; |
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(e) |
the upcoming measures and milestones and an assessment of how likely they are to be met; |
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(f) |
updated financial performance projections; |
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(g) |
where necessary and justified, a proposal for adjustments to individual measures, milestones or performance indicators, in accordance with Article 5(2). |
2. Resolution authorities may at all times require the management body or the person or persons appointed in accordance with Article 72(1) of Directive 2014/59/EU to provide information relating to the implementation of the business reorganisation plan.