The Bank Recovery and Resolution (No. 2) Order 2014

References to EBA U.K.

25.—(1) Paragraph (2) applies where, before the end of the four month period, a relevant competent authority has referred to EBA in accordance with Article 19 of the EBA Regulation (settlement of disagreements between competent authorities in cross-border situations) any matter relating to—

(a) the assessment of the group recovery plan; or

(b) a proposal by the appropriate regulator to direct relevant measures to be taken with the object of—

(i) reducing a group institution's risk profile, including its liquidity risk profile;

(ii) enabling a group institution to undertake timely recapitalisation; or

(iii) changing a group institution's funding strategy in order to improve the resilience of core business lines and critical functions.

(2) The appropriate regulator must—

(a) defer a decision on the matter referred for one month beginning with the date on which the four month period ends; and

(b) ensure that the decision conforms with any decision taken by EBA before the end of that month under Article 19.3 of the EBA Regulation.

(3) The appropriate regulator may, within the four month period, refer to EBA in accordance with Article 19 of the EBA Regulation any matter relating to a proposal by a relevant competent authority to direct a group institution to take relevant measures with the object of—

(a) reducing the institution's risk profile, including its liquidity risk profile;

(b) enabling it to undertake timely recapitalisation; or

(c) changing its funding strategy in order to improve the resilience of core business lines and critical functions.

(4) For the purposes of a reference to EBA of a matter to which this article refers the four month period is deemed to be the conciliation phase referred to in Article 19.2 of the EBA Regulation.