On 8 February 2024, the European Commission adopted a Delegated Regulation supplementing Regulation (EU) 2021/23 on a framework for the recovery and resolution of central counterparties (CCPRRR) regarding regulatory technical standards (RTS), 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.
The Delegated Regulation sets out the minimum elements to be included in the business reorganisation plan submitted by the central counterparty after the resolution authority applied the write down and conversion tool in accordance with Article 32 of the CCPRRR. It also sets the procedure for the approval of the business reorganisation plan by the resolution authority.
The Delegated Regulation enters into force on the twentieth day following that of its publication in the Official Journal of the European Union (28 February 2024). It shall be binding in its entirety and directly applicable in all Member States.