PART 16Cross-border group resolution
CHAPTER 4Group resolution involving a group subsidiary where the PRA or FCA is the consolidating supervisor
Joint decision on adoption of group resolution scheme201
1
The Bank must endeavour to reach a joint decision on the adoption of a group resolution scheme with the other resolution authorities which are members of the college.
2
Where the Bank and another resolution authority (“authority A”) are unable to reach a joint decision on the adoption of a group resolution scheme, the Bank must—
a
decide the contents and details of a group resolution scheme for part of the relevant group, which it may do either alone or jointly with any resolution authority with which it is able to reach a joint decision; and
b
ensure that—
i
the decision on the contents and details of the scheme takes account of views and reservations of authority A; and
ii
every group entity for which authority A is the resolution authority is excluded from the scope of the scheme.
3
Where another resolution authority (apart from authority A) notifies the Bank that it does not wish to adopt a group resolution scheme for part of the relevant group, the Bank must ensure that every group entity for which that authority is the resolution authority is excluded from the scope of the group resolution scheme.