Article 7
Impediments to resolvability
When preparing a description of any measures required pursuant to Article 16 of Regulation (EU) 2021/23 to address or remove impediments to resolvability to be included in the resolution plan in accordance with Article 12(7), point (f), of Regulation (EU) 2021/23, the resolution authority shall ensure that at least the following elements are included in the resolution plan:
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(a) |
where a material impediment has been identified, a descriptive summary of the measures required under Article 16 of Regulation (EU) 2021/23, to identify any necessary changes to the structure, operations or risk management frameworks and financial resources of the CCP, or any measures to improve the CCP’s resolvability, and the timeline for completing the requested changes; |
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(b) |
a description of any impediments addressed or removed in accordance with Article 16 of Regulation (EU) 2021/23 over a period of 2 years preceding the current review of the impediments under Article 15 of that Regulation. |