(1) The Bank is designated as the resolution authority in the State that carries out the functions and duties of a resolution authority provided for in the Bank Recovery and Resolution Directive.
(2) The Minister shall inform the European Banking Authority in writing of the designation of the resolution authority under paragraph (1).
(3) In order to -
(a) apply the resolution actions, and
(b) exercise its functions under these Regulations,
with the required speed and flexibility, the resolution authority shall have the necessary expertise, resources and operational capacity.
(4) For the purposes of this Regulation, the resolution authority shall adopt and, as soon as practicable after their adoption, publish on the website of the Bank any necessary relevant internal rules (including rules regarding professional secrecy) on information exchanges between it and other functional areas of the Bank.
(5) The resolution authority, in the preparation, planning and application of resolution dec
…