SCHEDULE 3Amendments of the Bank Recovery and Resolution (No.2) Order 2014

Assessment of resolvability of institutions

35.—(1) Article 60 (assessment of resolvability) is amended as follows.

(2) In paragraph (2)—

(a)in sub-paragraph (a) for the words from “Section C” to the end substitute “Schedule 2B and in any technical standards under paragraph (2A);”;

(b)in sub-paragraph (d)—

(i)in paragraph (i) omit “; and”;

(ii)omit paragraph (ii).

(3) After paragraph (2) insert—

(2A) The Bank may make technical standards providing—

(a)further examples of relevant matters to be considered; and

(b)criteria to be examined,

for the purposes of making the assessment of resolvability..

(4) In paragraph (4)—

(a)for “take resolution action or” substitute “apply the resolution tools, exercise resolution powers or take”;

(b)for “any EEA State” substitute “the United Kingdom”.

(5) Omit paragraph (5).