1.   The business reorganisation plan shall be consistent, to the extent possible, with the assessments carried out by the resolution authority and the competent authority in the period leading up to the establishment of that plan and with the valuations used to determine whether the conditions for resolution set out in Article 22(1) of the Regulation (EU) 2021/23 were met.

2.   The business reorganisation plan shall link the measures therein to the outcome of the analysis of the factors and circumstances that caused the CCP to fail or to be likely to fail, and to the event that caused the resolution plan to be triggered, separating between default events, non-default events and a combination of both, depending on the circumstances of the situation.

3.   The analysis of the external operating environment included in the business reorganisation plan shall be consistent, to the extent possible, with the analysis of opportunities and threats in the relevant markets, as determined by the resolution authority and competent authority when carrying out their tasks.

4.   The business reorganisation plan shall not adversely affect the critical functions or core business lines of the CCP or the functioning of the financial system and overall financial stability.

5.   The business reorganisation plan shall be feasible and shall ensure the following:

(a)	mitigation of any potential implementation impediments, such as labour law or other contractual arrangements;

(b)

that the planned measures, the timetable for their implementation and the assessment of the performance criteria have taken into account the specific characteristics of the CCP, including business organisation and clearing services, the links with clearing members, and to the extent the information is available, the direct clients and indirect clients of the CCP, trading venues, creditors and critical service providers and any material interdependencies of the CCP with other entities relevant to the CCP or interoperability arrangements with other FMIs;

(c)	that the situation in the relevant markets where the CCP provides clearing services is taken into account;

(d)	that the valuation used to calculate any expected proceeds from the selling of assets or business lines envisaged by the business reorganisation plan is prudent, reliable and realistic.