Regulation 77 Amendment of Schedule 3

(1)

Schedule 3 (amendments of the Bank Recovery and Resolution (No.2) Order 2014) is amended in accordance with this regulation.

(2)

In paragraph 36 (assessment of resolvability of groups), for sub-paragraph (3)(a), substitute—

“(a)
for “take resolution action in respect of resolution entities or”, substitute “apply the resolution tools or exercise resolution powers in respect of resolution entities, or take”;”.

(3)

In paragraph 37 (assessment of resolvability of groups), for sub-paragraph (4)(a), substitute—

“(a)
for “take resolution action in respect of resolution entities or”, substitute “apply the resolution tools or exercise resolution powers in respect of resolution entities, or take”;”.

(4)

In paragraph 68 (minimum requirement for own funds and eligible liabilities: determination of minimum requirement for an institution)—

(a)

for sub-paragraph (2) substitute—

“(2)
In paragraph (6)—

(a)
in sub-paragraph (d), omit the final “and”;

(b)
at the end of sub-paragraph (e) insert—

“and

(f)
relevant assessment criteria specified in any Commission Regulation containing regulatory technical standards adopted by the European Commission under Article 45.2 of the recovery and resolution directive, so far as they are retained EU law.”.”.

(5)

In paragraph 70 (determination of minimum consolidated requirement where the PRA or FCA is the consolidating supervisor)—

(a)

for sub-paragraph (4) substitute—

“(4)
In paragraph (8)(a)—

(a)
in sub-paragraph (iv) omit the final “and”;

(b)
at the end of sub-paragraph (v) insert—

“and

(iv)
relevant assessment criteria specified in any Commission Regulation containing regulatory technical standards adopted by the European Commission under Article 45.2 of the recovery and resolution directive, so far as they are retained EU law.”.”.

(6)

In paragraph 76 (determination of minimum requirements for group institutions where the PRA or FCA is the consolidating supervisor), omit sub-paragraph (2).

(7)

In paragraph 118 (information to be contained in a group resolution plan), in sub-paragraph (5), in inserted paragraph 4, for “group entities”, substitute “resolution entities”.