+Article 70 Notification requirements
---+Article 70 1
---+Article 70 2
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Article 70 Notification requirements

1. Overview

,
Article 70 1

1.   The CCP shall notify the competent authority where it considers that it is failing or likely to fail as referred to in Article 22(2).
Article 70 2

2.   The competent authority shall inform the resolution authority of any notifications received under paragraph 1, and of any recovery or other measures in accordance with Title IV that the competent authority requires the CCP to take.

The competent authority shall inform the resolution authority of any emergency situation referred to in Article 24 of Regulation (EU) No 648/2012 relating to a CCP and of any notification received in accordance with Article 48 of that Regulation.
Article 70 3

3.   Where a competent authority or resolution authority determines that the conditions referred to in points (a) and (b) of Article 22(1) or in Article 22(3) are met in relation to a CCP, it shall notify without undue delay the following bodies:

(a)

the competent authority or resolution authority for that CCP;

(b)

the competent authority for the parent undertaking of the CCP;

(c)

the central bank;

(d)

the competent ministry;

(e)

the ESRB and the designated national macro-prudential authority; and

(f)

the supervisory college and resolution college for that CCP.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards