Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

SECTION IV Cross-border group resolution

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

Article 97 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. (1)

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

  2. (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. (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. (4)

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