Regulatory Alerts2022-05-10 | NBB_2016_37Added · Updated
Recovery plans - Specific guidelines for central securities depositories (CSDs) and institutions providing support to CSDs authorized in Belgium
This communication replaces and modifies the previous communication of 3 August 2016 by incorporating the EBA Guidelines on recovery plan indicators, specifically updating the list of indicators, threshold calibrations, and actions upon breach. It applies to Belgian credit institutions, Belgian parent undertakings of credit institutions with CSD or support institution status, and Belgian CSDs without credit institution status. The document mandates the inclusion of six categories of recovery plan indicators, requiring at least one indicator from each of the first four categories, and establishes a two-threshold system comprising an early warning threshold and a recovery plan threshold. Institutions are required to submit templates for recovery plan drafting, ensure annual updates, and obtain formal endorsement from their legal management body.
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