+Article 12 3
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Article 12 3
3. The resolution plan shall take into consideration at least the following:
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(a)
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the CCP’s failure, including in situations of broader financial instability or system wide events, due to one of the following or their combination:
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(b)
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the impact that the implementation of the resolution plan would have on:
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(i)
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the clearing members, and to the extent the information is available, their clients and indirect clients, including where they have been designated as O-SIIs and those likely to be subject to recovery measures or resolution actions in accordance with Directive 2014/59/EU;
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(iii)
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financial markets, including trading venues, served by the CCP; and
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(iv)
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the financial system in any Member State or the Union as a whole, and, to the extent possible, in third countries where it provides services;
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(c)
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the manner and the circumstances under which a CCP may apply for the use of central bank facilities provided under standard collateralisation, tenor and interest rate terms and the identification of the assets that would be expected to qualify as collateral.
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1. Overview
1.1 References
1.2 Identified Requirements
1.3 Related Standards
2. Identified Requirements
Requirements
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Requirement |
3. Related Standards
Standards
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Requirement |
- Builddate: 22.01.2021 00:00:00 -Doknr: CELEX:32021R0023
- EULAW -
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