S.L. 330.9 Art. 15Assessment of resolvability for institutions.

(1) After the Resolution Committee has consulted with the Authority and the European resolution authorities of the jurisdictions in which significant branches are located insofar as is relevant to the significant branch, it shall assess the extent to which an institution, which is not part of a group, is resolvable without the assumption of any of the following:

(a) extraordinary public financial support besides the use of the financing arrangements established in accordance with regulation 100;

(b) central bank emergency liquidity assistance;

(c) central bank liquidity assistance provided under non-standard collateralisation, tenor and interest rate terms: Provided that an institution shall be deemed to be resolvable if it is feasible and credible for the Resolution Committee to either liquidate it under normal insolvency proceedings or to resolve it by applying the different resolution tools and powers to the institution while avoiding to the maximum extent possible any significant adverse effect on the financial system, including in circumstances of broader financial instability or system wide events, of Malta, or other Member States or the European Union and with a view to ensuring the continuity of critical functions carried out by the institution. The Resolution Committee shall notify the EBA in a timely manner whenever an institution is deemed not to be resolvable.

(2) For the purposes of the assessment of resolvability referred to in sub-regulation (1), the Resolution Committee shall, as a minimum, examine the matters specified in Section C of the Schedule to these regulations.

(3) The resolvability assessment under this regulation shall be made by the Resolution Committee at the same time as and for the purposes of the drawing up and updating of the resolution plan in accordance with regulation 10.