Paragraph 3: Resolution of groups for which the collège de résolution is an individual resolution authority

The resolution college shall provide all the cooperation required to the consolidated resolution authority and to the other member authorities of the colleges of resolution authorities defined in Articles L. 613-59 and L. 613-59-1. When the resolution authority of another Member State reduces or converts own funds instruments referred to in I of Article L. 613-48 or implements one or more resolution measures, the resolution college shall provide all the…

I. – When it decides that a person referred to in I of Article L. 613-34 which is a subsidiary of a group within the meaning of I of Article L. 511-20 meets the conditions for initiating resolution proceedings referred to in II of Article L. 613-49 or, where applicable, those referred to in I and II of Article L. 613-49-1, the resolution college shall send, without delay, to the…

I. – When consulted by the consolidated resolution authority with a view to reaching a joint decision on a group resolution scheme referred to in Article L. 613-60-2, the resolution college shall provide all the cooperation required. II. – Where the resolution college disagrees with the group resolution scheme proposed by the resolution authority on a consolidated basis and considers, for reasons relating to financial stability, that it must take…