Guidelines on recovery plans

NBB_2024_06 – 26 March 2024 Communication – Page 1/21 boulevard de Berlaimont 14 – BE-1000 Brussels tel. +32 2 221 54 65 company number: 0203.201.340 RPM Brussels www.bnb.be Communication Brussels, 26 March 2024 Reference: NBB_2024_06 your contact:
Claire Renoirte phone +32 2 221 53 50 claire.renoirte@nbb.be Guidelines on recovery plans Scope This communication applies to Belgian credit institutions and Belgian parent undertakings of credit institutions that are not subject to direct supervision by the ECB in accordance with the SSM Regulation1 and to Belgian investment firms referred to in Article 2 of the Act on the status and supervision of investment firms and falling within the scope of Article 13, § 2, of the same Act (hereinafter collectively referred to as "institutions"), with the exception of:

• institutions benefiting from a simplified obligations regime2. These institutions should prepare their recovery plan in accordance with the Guidelines on simplified obligations regarding recovery plans3.
• subsidiary institutions of a Belgian parent institution, a Belgian (mixed) financial holding company or a Belgian mixed holding company for which it has not been decided that a recovery plan on an individual basis should be established. These institutions are not required to establish an individual recovery plan.
• institutions that are part of a group subject to consolidated supervision where the parent undertaking is established in another EU Member State for which it has not been decided that a recovery plan on an individual basis should be established 4. These
  1 Regulation (EU) No 1024/2013 of the Council of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions.
  2 For institutions subject to supervision by the NBB, the latter determines which institutions benefit from simplified obligations based on the criterion set out in Article 113, § 4, of the Banking Act and specified in the EBA guidelines of 7 July 2015 on the application of simplified obligations under Article 4, paragraph 5, of Directive 2014/59/EU (EBA/GL/2015/16) or on the basis of Article 116, § 1, of the Act of 20 July 2022 on the status and supervision of investment firms and containing various provisions. 3 NBB Communication NBB_2024_07 of 26 March 2024 "Guidelines on simplified obligations regarding recovery plans" 4 Article 8, paragraph 2, of Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC and the European Parliament and Council Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU and the Regulations of the European Parliament and of the Council (EU) No 1093/2010 and (EU) No 648/2012. n1 Banque Nationale Bank VAN BELGIE Eurosystem