CHAPTER VI U.K. RESOLUTION COLLEGES

SECTION IV U.K. Cross-border group resolution

Subsection 1 U.K. Decision on the need for a group resolution scheme under Articles 91 and 92 of Directive 2014/59/EU

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

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

(1)

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

(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)

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

(4)

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