13. Resolution authorities, while setting the methodology for the definition of the transfer …

Resolution authorities, while setting the methodology for the definition of the transfer perimeter in resolution plans, in accordance with Articles 10.1, 10.7., point (j), and 12.3, point (b), of Directive 2014/59/EU, should consider:

• a. the tools’ purposes (as per the resolution strategy defined for the institution) a nd the activities of institutions. Ultimately, the core transfer perimeter should be composed by assets, rights and/or liabilities that are essential or critical to be transferred to comply with the resolution objectives, the regulatory obligations (including protected liabilities under Article 44 of Directive 2014/59/EU or obligations under Article 73 of Directive 2014/59/EU) and the tool purposes ( “ first layer of the transfer perimeter ” ) and its determination should correspond with a list of criteria further refined in section 4.1. below;
• b. the interconnections within the institution. Subject to the previous subparagraph (a), the interconnections that cannot be removed without time-consuming and costly efforts or due to legal restrictions (including those regarding the safeguards stipulated in Article 76 to Article 80 of Directive 2014/59/EU) should be integrated into the transfer perimeter ( “ second layer of the transfer perimeter ” ) in line with section 4.2 below.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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