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
Added: July 2018