Article 7
Timetable for the implementation of the measures to be adopted to restore the CCP’s long-term viability
1. The timetable for implementing the measures referred to in Article 37(2), point (c), of Regulation (EU) 2021/23 shall cover all of the following aspects:
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(a) |
the overall timeline and the timeframes for implementing the measures set out in the business reorganisation plan; |
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(b) |
a list of the envisaged main actions and steps, with allocated timelines, to be taken by the CCP to implement each measure set out in the business reorganisation plan; |
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(c) |
the estimated target timeline for implementing the reorganisation measures set out in the business reorganisation plan; |
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(d) |
a detailed timeline of planned interactions with the resolution authority and the competent authority; |
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(e) |
a timeline for communicating with the public, taking into account the CCP’s internal and external communication strategy about the implementation of the measures set out in the business reorganisation plan; |
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(f) |
a timeline for communicating with the relevant external stakeholders involved in the implementation of the measures set out in the business reorganisation plan, including clearing members and trade unions; |
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(g) |
where applicable, a timeline for restoring the CCP’s compliance with its authorisation requirements under Regulation (EU) No 648/2012 and with the relevant requirements under Regulation (EU) 2021/23. |
2. The CCP shall ensure that the timelines referred to in paragraph 1 are suitable, and enable an effective implementation of the measures set out in the business reorganisation plan.