9. Licensed banks to prepare a recovery plan

a presentation of the general recovery capacity of the licensed bank;

the scope of the recovery plan, considering the nature, scale, structure, complexity, and interconnectedness to other institutions of the licensed bank;

the details of other entities within the banking group covered under the recovery framework;

the details of communication planning on recovery options;

an identification of critical functions and critical shared services of the licensed bank that are organized in a manner ensuring the continuous availability of such functions or services to the entire licensed bank under possible recovery or resolution processes;

an identification of recovery indicators, triggers, and procedures to ensure the timely implementation of recovery actions;

the range of recovery options available to deal with shocks, to capital, liquidity and all other aspects that may arise from entity specific stresses or market wide stresses, or both of such stresses, as the case may be;

the time and resources required to implement recovery options;

significant deficiencies of resources that may hinder the effective and timely implementation of the recovery plan;

the actions to be taken to remedy the impediments including the availability of business continuity planning;

the details on costs of implementation;

a detailed description of how the recovery plan is integrated into the licensed bank’s management;

the persons who are responsible for the development and implementation of the recovery plan within the licensed bank;

the policies and procedures for approving the recovery plan;

the mechanisms and measures for-

the conservation or reconstitution of the funds of the licensed bank;

ensuring that the licensed bank has access to emergency financing sources, including potential sources of liquidity, assessment of available collateral and assessment of the possibility of transferring liquidity between entities within the group and between the businesses;

ensuring that the licensed bank may continue its activities and fulfill its obligations when they become due;

reducing leverage risk and effect;

restructuring debts;

maintaining continuous access to financial market infrastructures;

facilitating the sale of assets or businesses within an appropriate period of time in order to restore financial soundness; and

facilitating the implementation of the recovery plan, including necessary measures to allow its timely recapitalization;

other management actions or strategies aimed at restoring the financial soundness and the anticipated financial effect of those actions or strategies;

an analysis of the situations in which the licensed bank may seek access to the financial facilities offered by the Central Bank and identify the assets that can be qualified as collateral;

the preparatory measures that the licensed bank has adopted or intends to adopt; and

such other requirements or information, as the

a licensed bank has not identified the changes that are required to be introduced to its economic activity; or

the actions proposed by the licensed bank to address the deficiencies or obstacles of such recovery plan are not adequate, the Central Bank shall direct such licensed bank to take one or more of the measures specified in subsection (10) or any other measure as it may consider necessary and proportionate, taking into consideration the seriousness of the deficiencies and the effect of the respective measures on the continuity of the business of the licensed bank.

to reduce the risk profile of the licensed bank, including reducing the liquidity risk;

to apply prompt recapitalization measures;

to review the strategy and structure of the licensed bank;

to modify the financing strategy, in order to improve the shock resistance of the critical functions; or

to modify the administration structure of the licensed bank.