37. For breaches of recovery plan indicator thresholds to effectively fulfil their warning …

For breaches of recovery plan indicator thresholds to effectively fulfil their warning potential, issuers should lay down in their recovery plan that they will promptly and in any event:

• • within maximum 24 hours from the breach of the recovery plan indicator threshold, alert the issuer ’s management body by activating the appropriate escalation process in order to ensure that any breach is considered and, where relevant, acted upon; and
• • at the latest within 24 hours following the activation of the internal escalation process, notify the breach of the recovery plan indicator threshold to the competent authority.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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