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The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018
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The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018, Paragraph 4 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Recovery and resolution planningU.K.
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4.—(1) Article 7 (recovery planning: preparatory steps and simplified obligations) is amended as follows.
(2) In paragraph (3)—
(a)in sub-paragraph (a) for the words from “Section A” to “recovery plans)” substitute “ Schedule A1 ”;
(b)in sub-paragraph (b) for “Section A of that Annex” substitute “ that Schedule ”.
(3) After paragraph (3) insert—
“(3A) The PRA may make technical standards specifying further information to be contained in a recovery plan or a group recovery plan that is to be drawn up by an institution or group entity that is authorised by the PRA.
(3B) The FCA may make technical standards specifying further information to be contained in a recovery plan or a group recovery plan that is to be drawn up by an institution or group entity that is authorised by the FCA.”.
(4) In paragraph (4) for “an EEA” substitute “ a UK ”.
(5) After paragraph (4) insert—
“(4A) The Bank may make technical standards specifying relevant criteria which the appropriate regulator must take into account when exercising its functions under this article.
(4B) In paragraph (4A) “relevant criteria” means criteria that may be used to assess the impact that an institution's failure would have on financial markets, other institutions and on funding conditions.”.
Commencement Information
I1Sch. 3 para. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
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