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Article L613-35 of the French Monetary and Financial Code

I. – The following are subject to the obligation to draw up and maintain a preventive recovery plan: 1° Credit institutions subject to direct supervision by the European Central Bank pursuant to Article 6(4) of Council Regulation (EU) No 1024/2013 of 15 October 2013 and credit institutions or investment firms which constitute a significant part of the financial system within the meaning of Article 11(8) of Regulation (EU) No 806/2014…

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Article L613-36 of the French Monetary and Financial Code

I. – The supervisory board shall examine the individual preventive recovery plans after consulting, where appropriate, the competent authorities of the Member States where branches of significant importance are located. It shall ensure that they comply with the requirements of IV and VI of Article L. 613-35 and the regulatory provisions adopted for its application. In particular, it assesses their ability to maintain or restore the viability and financial situation…

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Article L613-37 of the French Monetary and Financial Code

I. – Where it is responsible for the supervision of a group on a consolidated basis, the college of supervisors shall communicate the preventive group recovery plans referred to it pursuant to VII of Article L. 613-35: 1° To the competent authorities responsible for the supervision of subsidiaries established in another Member State of the European Union ; 2° To the competent authorities of the other Member States of the…

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Article L613-37-1 of the French Monetary and Financial Code

I. – When a matter is referred to it by the authority of another Member State of the European Union responsible for the supervision of a group on a consolidated basis, for the purposes of examining and assessing a preventive group recovery plan, the college of supervisors shall provide all the cooperation required. The supervisory board shall ensure, insofar as it is concerned, compliance with the requirements referred to in…

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