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  • DS-3.1 DS-3.1 Independent Review

    • DS-3.1.1

      [This Paragraph was 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