4.8. Master playbook

138. The Union parent undertaking and the resolution entities of a resolution group that is either subject to Article 92a or 92b of Regulation (EU) No 575/2013 or has total assets at the level of the resolution group exceeding EUR100 billion, and those designated by the relevant resolution authority that are not subject to Article 92a of Regulation (EU) No 575/2013 and which are part of a resolution group the total assets of which are lower than EUR 100 billion but which the resolution authority has assessed as reasonably likely to pose a systemic risk in the event of its failure in accordance with Article45c(6) of Directive 2014/59/EU, should develop a master play-book.

139. The master playbook should be requested from institutions other than those designated in paragraph 138 when the RA assesses that it is justified by the complexity of the organisation and the consequent need for a high degree of coordination of resolvability capabilities.

140. The master playbook should²⁹ :

• a. define key roles and responsibilities of senior management in the run-up to and during resolution;
• b. set out the matter and timeframes on which decisions should be made by the man-agement in the run-up and into resolution;
• c. set out the triggers for the activation of sub-playbooks (bail-in playbook, transfer playbook, contingency plans for access to FMIs, communication);
• d. set out the source, deadlines and format of information sources that will support these decisions by the board;
• e. demonstrate how the various elements of the execution of the resolution strategy interact with each other and, in particular, the following:
• i. Bail-in execution (bail-in playbook);
• ii. Transfer playbook (where relevant);
• iii. Valuation;
• iv. Funding and liquidity in resolution (including collateral monitoring / fund-ing in resolution strategy);
• v. Access to FMIs (including contingency plans);
• vi. Operational continuity (including service catalogue);
• vii. Business reorganisation plan.

141. Institutions should update their master playbooks at least annually or after a change to their legal or organisational structure or a change to their operational or financial conditions which could have a material effect on, or necessitates a change to, the master playbook. The outcome of its annual review should be notified to resolution authorities without undue delay. 142. After Annex 3 of the Resolvability Guidelines, Annexes 4 and 5 are inserted as follows:

²⁹ Annex 5 provides a high-level description of the master playbook architecture.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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