Section I: Provisions relating to the preparation, assessment and implementation of preventive recovery plans

The threshold mentioned in 1° of I of Article L. 311-5 is 50 billion euros for the persons mentioned in Article L. 311-1 and not subject to group supervision by the Autorité de contrôle prudentiel et de résolution. The threshold mentioned in 2° of I of Article L. 311-5 is 50 billion euros for the persons mentioned in Article L. 311-1 and subject to group supervision by the Autorité de…

I.-For the application of Article L. 311-5, the supervisory board of the Autorité de contrôle prudentiel et de résolution shall decide how often the preventive recovery plan is to be updated, which may not be less than every two years. This decision is taken taking into account the importance and risks presented by the person’s activity with regard to the resolution objectives mentioned in I of Article L. 311-22. However,…

I.-The preventive recovery plan referred to in article L. 311-5 includes appropriate conditions and procedures to ensure the rapid implementation of the recovery measures identified. It considers several serious crisis scenarios, of a macroeconomic and financial nature or resulting from catastrophic events, with serious implications for policyholders, beneficiaries and members, depending on the specific situation of the person or group concerned, including events of systemic proportions and crises specific to…