Updated 18/09/2024
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Article 6 - Assessment of resolvability

Article 6

Assessment of resolvability

When preparing a detailed description of the assessment of resolvability to be included in the resolution plan in accordance with Article 12(7), point (e), of Regulation (EU) 2021/23, the resolution authority shall ensure that at least the following elements are included in the resolution plan:

(a)

the conclusions of the assessment of resolvability, including at least whether or not the CCP is deemed resolvable based on the resolution authority’s considerations under Article 15(2) of Regulation (EU) 2021/23;

(b)

a description of how the resolution authority has assessed the extent to which the CCP is resolvable without assuming any of the financing arrangements as set out in Article 15(1), points (a), (b) and (c), of Regulation (EU) 2021/23;

(c)

a description of the rationale of the resolution authority for considering the feasibility of applying the resolution tools in such a way that meets the resolution objectives;

(d)

a description of the resolution authority’s assessments of the information received from the CCP under Article 15(3) of Regulation (EU) 2021/23, detailing whether the resolution authority agrees with the CCP’s assessment as to the absence of impediments;

(e)

a description providing details of when and how the resolvability has been assessed most recently by the resolution authority;

(f)

a description of the availability of the envisaged assets and rights to the CCP and if such assets would be available for use in resolution or whether such use or transfer of such assets could be hampered or prevented by residual interests of direct and indirect participants in those assets or by legal constraints, such as the legal mechanism by which collateral is provided, including whether collateral is provided as a security interest, pledge or by way of title transfer;

(g)

a description of each of the matters that the resolution authority is to consider when assessing the resolvability of a CCP, as set out in Section C of the Annex to Regulation (EU) 2021/23.