7.

The resolution plan shall specify the circumstances and different scenarios for applying the resolution tools and exercising the resolution powers. It shall clearly distinguish, in particular through different scenarios, between failure caused by default events, non-default events, and a combination of both, as well as between different types of non-default events. The resolution plan shall include the following, quantified whenever appropriate and possible: a summary of the key elements of the plan, distinguishing between default events, non-default events and a combination of the two; a summary of the material changes to the CCP that have occurred since the resolution plan was last updated; a description of how the CCP’s critical functions could be legally and economically separated, to the extent necessary, from its other functions so as to ensure the continuity of its critical functions in the resolution of the CCP; an estimation of the timeframe for implementing each material aspect of the plan, including for replenishing the CCP’s financial resources; a detailed description of the assessment of resolvability carried out in accordance with Article 15; a description of any measures required pursuant to Article 16 to address or remove impediments to resolvability identified as a result of the assessment carried out in accordance with Article 15; a description of the processes for determining the value and marketability of the critical functions and assets of the CCP; a detailed description of the arrangements for ensuring that the information required pursuant to Article 13 is up to date and available to the resolution authorities at all times; an explanation as to how resolution actions could be financed without the assumption of the elements referred to in paragraph 4; a detailed description of the different resolution strategies that could be applied according to the different possible scenarios and their related timeframes; a description of critical interdependencies between the CCP and other market participants and between the CCP and critical service providers, interoperability arrangements and links with other FMIs, as well as ways to address all of those interdependencies; a description of critical intra-group interdependencies as well as ways to address them; a description of the different options to ensure: access to payments and clearing services and other infrastructures; timely settlement of obligations due to clearing members and, where applicable, their clients and any linked FMIs; access of clearing members, and, where applicable, their clients on a transparent and non-discriminatory basis to securities or cash accounts provided by the CCP and securities or cash collateral posted to and held by the CCP that is owed to such participants; continuity in the operations of links between the CCP and other FMIs and between the CCP and trading venues; preservation of the portability of the positions and related assets of direct and indirect clients; and preservation of the licenses, authorisations, recognitions and legal designations of a CCP where necessary for the continued performance of the CCP’s critical functions including its recognition for the purposes of the application of the relevant settlement finality rules and the participation in or links with other FMIs or with trading venues; a description of how the resolution authority will obtain the necessary information to perform the valuation referred to in Article 24; an analysis of the impact of the plan on the employees of the CCP, including an assessment of any associated costs, and a description of envisaged procedures to consult with staff during the resolution process, taking into account any national rules and systems for dialogue with social partners; a plan for communicating with the media and the public so as to be as transparent as possible; a description of essential operations and systems for maintaining the continuous functioning of the CCP’s operational processes; a description of the arrangements for notifying the resolution college in accordance with Article 72(1); a description of the measures to facilitate the portability of positions and related assets of the clearing members and clients of the defaulting CCP from the defaulting CCP to another CCP or a bridge CCP while not affecting the contractual relationships between the clearing members and their clients.

← art_12__para_6__text_2 · All articles · art_12__para_7__text_1 →

Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.