- Recovery and Resolution Plan (RRP) — Regulators
This chapter assesses how the concepts of resolution tools and powers are applied to, and indeed shape and are shaped by, groups. The driving concern of resolution authorities is to ensure the resolvability of banking and other financial services groups. Major financial services groups have had to restructure and refinance themselves with a view to facilitating their resolution authorities’ resolution strategies, and it is unlikely that regulators would knowingly permit the creation of a group that posed serious barriers to resolvability. Moreover, resolution authorities are now required to identify barriers to resolution on a periodic basis, and have been granted powers to require groups to restructure in order to remove such impediments. The chapter then considers the application of resolution-related requirements on a group basis, as well as the group resolution plans and resolution strategies.
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