The Bank Recovery and Resolution (No. 2) Order 2014

Application and interpretation of Chapter 1U.K.

This section has no associated Explanatory Memorandum

11.—(1) This Chapter applies where an institution—

(a)is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with [F1the capital requirements regulation and CRR rules]; and

(b)submits a recovery plan to the appropriate regulator for assessment F2....

(2) In this Chapter “relevant measures” means measures to maintain or restore the viability and financial position of the institution, including measures to—

(a)reduce its risk profile, including its liquidity risk profile;

(b)review its structure and strategy;

(c)enable it to undertake timely recapitalisation;

(d)change its funding strategy in order to improve the resilience of core business lines and critical functions; and

(e)change its governance structure.

Textual Amendments