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Chapter I Objectives, conditions and general principles |
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Article 21 Resolution objectives |
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Article 22 Conditions for resolution |
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Article 23 General principles regarding resolution |
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Chapter II Valuation |
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Article 24 Objectives of valuation |
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Article 25 Requirements for valuation |
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Article 26 Provisional valuation |
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Chapter III Resolution tools |
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Section 1 General pr inciples |
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Article 27 General provisions on resolution tools |
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Section 2 Position allocation and loss allocation tools |
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Article 28 Objective and scope of the position and loss allocation tools |
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Article 29 Termination of contracts - partial or full |
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Article 30 Reduction of the value of any gains payable by the CCP to non-defaulting clearing members |
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Article 31 Resolution cash call |
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Section 3 Write-do wn and conv ersion of instr uments of o wnership and debt ins tr uments or other unsecured liabilities |
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Article 32 Requirement to write down and convert instruments of ownership and debt instruments or other unsecured liabilities |
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Article 33 Provisions governing the write-down or conversion of instruments of ownership and debt instruments or other unsecured liabilities |
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Article 34 Effect of write-down and conversion |
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Article 35 Removal of procedural obstacles for write-down and conversion |
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Article 36 Submission of a business reorganisation plan |
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Article 37 Content of the business reorganisation plan |
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Article 38 Assessment and adoption of the business reorganisation plan |
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Article 39 Implementation and monitoring of the business reorganisation plan |
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Section 4 Sale of business tool |
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Article 40 Sale of business tool |
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Article 41 Sale of business tool: procedural requirements |
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Section 5 Bridge CCP tool |
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Article 42 Bridge CCP tool |
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Article 43 Bridge CCP: procedural requirements |
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Section 6 Additional financing arrangements |
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Article 44 Alternative funding means |
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Section 7 Government stabilisation tools |
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Article 45 Government financial stabilisation tools |
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Article 46 Public equity support tool |
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Article 47 Temporary public ownership tool |
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Chapter IV Resolution powers |
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Article 48 General powers |
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Article 49 Ancillary powers |
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Article 50 Special management |
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Article 51 Power to require the provision of services and facilities |
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Article 52 Power to enforce crisis prevention measures or resolution actions by other Member States |
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Article 53 Power in respect of assets, contracts, rights, liabilities, obligations and instruments of ownership of persons located in or governed by the law of third countries |
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Article 54 Exclusion of certain contractual terms in early intervention and resolution |
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Article 55 Power to suspend certain obligations |
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Article 56 Power to restrict the enforcement of security interests |
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Article 57 Power to temporarily suspend termination rights |
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Article 58 Power to exercise control over the CCP |
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Article 59 Exercise of powers by the resolution authorities |
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Chapter V Safeguards |
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Article 60 'No creditor worse off ' principle |
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Article 61 Valuation for the application of the 'no creditor worse off ' principle |
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Article 62 Safeguard for shareholders, clearing members and other creditors |
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Article 63 Safeguard for clients and indirect clients |
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Article 64 Recoupment of payments |
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Article 65 Safeguard for counterparties in partial transfers |
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Article 66 Protection for financial collateral, set off and netting arrangements |
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Article 67 Protection for security arrangements |
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Article 68 Protection for structured finance arrangements and covered bonds |
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Article 69 Partial transfers: protection of trading, clearing and settlement systems |
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Chapter VI Procedural obligations |
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Article 70 Notification requirements |
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Article 71 Decision of the resolution authority |
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Article 72 Procedural obligations of resolution authorities |
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Article 73 Confidentiality |
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Chapter VII Right of appeal and exclusion of other actions |
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Article 74 Ex-ante judicial approval and rights of appeal |
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Article 75 Restrictions on other proceedings |
