EBA has published a consultation on draft regulatory technical standards (RTS) on the contents of recovery plans under the draft Recovery and Resolution Directive (RRD). EBA may need to consult again if the final version of RRD differs substantially from the current one. The proposed RTS establish that recovery plans shall include at least the following items:
- a summary;
- information on governance, including how the plan was developed and approved, and whether the necessary procedures and management information are in place to ensure the timely implementation of the plan;
- a strategic analysis, including a general description of the institution, its internal and external interconnectedness, its core business and critical functions, and recovery options. Resolution plans must have impact and feasibility assessments, and contingency plans explaining how continuity of operations can be maintained;
- a communications and disclosure plan; and
- preparatory measures taken to facilitate the implementation of the plan.
The consultation closes on 11 June. (Source: Draft RTS on the Content of Recovery Plans under RRD)