• DS-3: DS-3: Independent Review

    • DS-3.1 DS-3.1 Independent Review

      • DS-3.1.1

        [This Paragraph has been deleted in January 2022].

        Deleted: January 2022
        Added: July 2018

      • DS-3.1.2

        The independent reviews of recovery and resolution planning framework undertaken in accordance with Paragraphs HC-6.6.33 and HC-6.6.34, must cover the following:

        (a) Adequacy of management oversight and approval of the RRPs;
        (b) Adequacy of documentation supporting the RRPs;
        (c) Integration of ICAAP and stress testing into RRP process;
        (d) Sufficiency of the trigger framework and the process for implementing and monitoring them;
        (e) Escalation process and the integrity of the planned actions against the triggers;
        (f) Authorisation for, and implementation of, significant changes to the RRPs;
        (g) Alignment of the RRPs to the bank's business strategies, group and organisational structure;
        (h) Due consideration of the legal and external environment;
        (i) Verification of the quality of data sources used to run the stress tests (e.g. in terms of accuracy, consistency, timeliness, completeness and reliability).
        Amended: January 2022
        Added: July 2018