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Article 97 Process for deciding on the need for a group resolution scheme

United Kingdom

Original text. Later amendments are not shown.

The process for the assessment of the need for a group resolution scheme shall comprise the following steps to be implemented:

  1. (1)

    dialogue, where possible, on the need for a group resolution scheme and for mutualising financing arrangements;

  2. (2)

    draft assessment or draft decision on the need for a group resolution scheme by the group-level resolution authority and communication to the members of the resolution college;

  3. (3)

    consultation on the draft assessment or draft decision on the need for a group resolution scheme among the members of the resolution college;

  4. (4)

    finalisation of the assessment or the decision on the need for a group resolution scheme and communicating to the resolution college.