13.—(1) The appropriate regulator must assess whether the recovery plan meets the requirements of [F1Schedule A1] and whether the arrangements proposed in the plan—
(a)would, if implemented, be reasonably likely to maintain or restore the viability and financial position of the institution; and
(b)would be reasonably likely to be implemented quickly and effectively in situations of financial stress and, as far as possible, without any material adverse impact on the financial system of the United Kingdom.
[F2(1A) The PRA and the FCA may each make technical standards relating to the criteria referred to in paragraph (1) for a recovery plan submitted by an institution that it has authorised.]
(2) In assessing the recovery plan against these criteria, the appropriate regulator must consider—
(a)any preparatory measures taken or planned to be taken by the institution;
(b)the possibility that the plan may have to be implemented at the same time as recovery plans drawn up by other institutions and group recovery plans; and
(c)whether the capital and funding structure of the institution is appropriate having regard to the level of complexity of its organisational structure and its risk profile.
(3) This article has effect subject to the imposition of any simplified obligations (within the meaning given by article 9(3)(a)) with respect to the recovery plan.
Textual Amendments
F1Words in art. 13(1) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 9(2); 2020 c. 1, Sch. 5 para. 1(1)