5. Proportionality Each of the measures listed in Article 17(5) of Directive 2014/59/EU may be …

Proportionality

Each of the measures listed in Article 17(5) of Directive 2014/59/EU may be applied if they are suitable, necessary and proportionate to reduce or remove the impediments to the implementation of a certain resolution strategy, including impediments to liquidation, where an institution is likely to be liquidated in normal insolvency proceedings in the event of its failure.

• (a) A measure is suitable to reach the intended goal if it is able to materially reduce or remove the relevant impediment in a timely manner.
• (b) A measure is necessary to reach the intended goal if it is required to remove or materially reduce a substantive impediment to the feasible or credible implementation of the relevant resolution strategy, and if there are no less intrusive measures which are able to achieve the same objective to the same extent. The intrusiveness of the measure should be assessed by costs and negative effects on the institution and its owners and their right to conduct business, and on the soundness and stability of the ongoing business of the institution. In accordance with Article 10(3) of Directive 2014/59/EU, extraordinary public support must not be assumed to be a less intrusive measure.
• (c) A measure is proportionate to the threat that those impediments pose to financial stability in the event of a failure of the institution, if the overall benefits for making a liquidation in normal insolvency proceedings or resolution of the institution feasible and credible and for meeting the resolution objectives outweigh the overall costs and negative effects of removing the impediments to resolvability. Resolution authorities should also consider less intrusive measures when assessing proportionality.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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