The Bank Recovery and Resolution (No. 2) Order 2014 No. 3348

PART 4 U.K. Recovery plans

CHAPTER 2 U.K. Assessment of group recovery plan where the PRA or FCA is the consolidating supervisor

Assessment of group recovery plan U.K.

18.—(1) F1 ... The appropriate regulator must assess the group recovery plan, and is solely responsible for the assessment.

F2 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) The assessment must take account of—

(a) any recommendations made by the Bank F3 ... to address any course of action proposed in the plan which could have an adverse impact on the resolvability of a group institution; and

(b) the potential impact of the proposed recovery measures on the financial stability of [F4 the United Kingdom].

Textual Amendments

F1 Words in art. 18(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 12(2); 2020 c. 1, Sch. 5 para. 1(1)

F2 Art. 18(2)(3) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 12(3); 2020 c. 1, Sch. 5 para. 1(1)

F3 Words in art. 18(4)(a) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 12(4)(a); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in art. 18(4)(b) 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. 12(4)(b); 2020 c. 1, Sch. 5 para. 1(1)