Updated 18/09/2024
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Article 11 - Credibility of the business reorganisation plan

Article 11

Credibility of the business reorganisation plan

1.   The business reorganisation plan shall apply assumptions that are credible, that range from best-case to worst-case, and that ensure that the reorganisation strategy set out in the business reorganisation plan is realistic, appropriate, and takes into account the opportunities and threats to the CCP in the relevant market.

2.   The assumptions in the business reorganisation plan shall be based on the relevant markets where the CCP provides clearing services and the clearing offerings by relevant peer CCPs, and shall be compared with appropriate sector-wide benchmarks relevant for CCPs.

3.   All assumptions shall result in plausible scenarios. The changes applied to determine worst-case or best-case assumptions shall focus, in particular, on aspects that are relevant for the CCP under the business reorganisation plan to ensure proportionality and efficiency.

4.   The business reorganisation plan shall not, even under the worst-case or best-case scenarios, include resolution tools beyond the scope of the resolution scheme under implementation.