73. [FMI contingency plans] In addition to the guidance referred to in section 4.1.2 (and …

[FMI contingency plans] In addition to the guidance referred to in section 4.1.2 (and particularly paragraph 50) of the EBA resolvability guidelines, institutions should:

• - Assess how the required FMIs accesses will be transferred to the entity whose purpose is the maintenance of the critical function/core business line continuity and/or how indirect access can be established. Should the institution subject to resolution become a wind-down entity (after the application of the transfer tool in accordance with Article 37(6) Directive 2014/59/EU) or in the case of the AMC, FMI access can be limited. Therefore, indirect access via the continuing entity should be granted and arrangements should be taken for this purpose, including the continuing entity should retain the BIC, connectivity and communication services of the institution under resolution.
• - Assess the existing transition mechanisms, expedited FMI access application processes, or possibilities to grant power of attorney in order to maintain FMI access continuity for the transfer perimeter.
• - Upon request from resolution authorities, assess the impact of the transfer on the services provided by the institution to FMIs and/or other parties.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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