On 30 October 2023, the European Commission published Commission Delegated Regulation (EU) of 26 October 2023, supplementing the CCP Recovery and Resolution Regulation (CCPRRR) with regard to regulatory technical standards specifying the minimum elements to be included in a business reorganisation plan and the criteria to be fulfilled for its approval by the resolution authority.
This delegated act sets out the:
- Content of the business reorganisation plan submitted by a central counterparty within 1 month after the resolution authority applied the write-down and conversion tool in accordance with Article 32 of the CCPRRR.
- Procedure for the approval of the business reorganisation plan by the resolution authority.
The delegated act enters into force on the twentieth day following that of its publication in the Official Journal of the European Union.