Guidelines on simplified obligations for recovery plans

NBB_2024_07 – 26 March 2024 Communication – Page 1/8 boulevard de Berlaimont 14 – BE-1000 Brussels phone +32 2 221 54 65 company number: 0203.201.340 RPM (Trade Register) Brussels www.nbb.be Communication Brussels, 26 March 2024 Reference: NBB_2024_07 contact person:
Claire Renoirte phone +32 2 221 53 50 claire.renoirte@nbb.be Guidelines on simplified obligations for recovery plans Scope Belgian credit institutions and stockbroking firms referred to in article 2 of the law on the status and control of stockbroking companies and falling within the scope of Article 13, §2, of the same law (hereinafter collectively referred to as “institutions”) that are subject to simplified obligations. 1 Summary/Objectives The purpose of this communication is to provide a set of guidelines for drafting a simplified recovery plan. This communication replaces Communication NBB_2022_10, which was modified to incorporate the recently published EBA Guidelines on overall recovery capacity in recovery planning 2 and to extend its scope to stockbroking firms. The simplified recovery plan and the associated tables must be submitted through OneGate by 15 December of the year in which a recovery plan is due. Structure

1. General overview and motivation
2. Summary of the recovery plan
3. Identification of key vulnerabilities and stress scenarios
4. Recovery options
5. Activation of the recovery plan
6. Checklist of information to be included in a simplified recovery plan
   1 For institutions falling under NBB supervision, the NBB determines which of them are eligible for simplified obligations on the basis of the criterion laid down in article 113 §4 of the Banking Act, and further specified in the EBA Guidelines of 7 July 2015 on the application of simplified obligations under Article 4(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 legal status and supervision of stockbroking firms. 2 Guidelines EBA/GL/2023/06 of 19 July 2023 on overall recovery capacity in recovery planning. f“ BanqueNationaleBank DE BELGIQUE VAN BELGIE Eurosystem