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The European Banking Authority (EBA) launched a public consultation on its draft RTS on the content of "Business Reorganisation Plans and Progress Reports" and Guidelines on the assessment of these plans.
Plans should, in particular, be based on prudent assumptions and ensure that any shortcomings of the institution are addressed and that there will not be any further need for resolution. The plans should also include effective measures for monitoring their own implementation.
The draft RTS develop in detail the elements that should be included in a resolution plan and the content of the related progress reports. The draft Guidelines specify further the minimum criteria for a plan to be approved by Resolution and Competent Authorities across the EU, who should assess the credibility of the assumptions, as well as the presence of concrete performance indicators in the plan. Authorities will also be required to assess whether the plan is realistic and takes into account the opportunities and threats in the relevant market.
Comments to this consultation can be sent to the EBA by 9 June 2015. A public hearing will take place at the EBA premises on 11 May 2015 from 14:00 to 17:00 UK time.