1. Gibraltar Resolution Planning Framework
Industry Dialogue Workshop: Content of Resolution Plans
3 November 2017

2. Today’s Content Quick recap on Gibraltar's Bank Resolution Structure
Resolution Planning and Actions
Steps for resolution planning
Content of Resolution Plans
Industry Dialogue Workshops
Information for Resolution Plans
Resolution Plans Info Templates
Next Steps
Questions/Comments
3 November 2017

3. The FSRCC/RCU are operationally separate from the GFSC
Gibraltar's Bank Resolution Structure
The FSRCC/RCU are operationally separate from the GFSC
3 November 2017

4. Plan Anticipates Resolution
Resolution Planning and Actions
Resolution Plan
Prepared by RCU with a full set of measures to wind down a failing bank without the knock on effect on the local economy & taxpayer
FSRCC
Plan Anticipates Resolution
Based on exiting plan
Bank Falls into trouble
Existing Recovery Plan is used
Recovery fails
Bank determined failing or likely to fail
Bank enters resolution
Bank re-organised
FSRCC decides upon resolution scheme
3 November 2017

5. Address impediments and determine MREL
Steps for Resolution Planning: RCU
Analyse the bank's critical functions
Assess whether bank can be wound up under normal insolvency proceeding
Determine preferred resolution strategy for bank
Assess resolvability of bank and identify impediments
Address impediments and determine MREL
Review / Update Resolution Plan
Phases to be delivered via Industry Dialogue Workshops
3 November 2017

6. Content of Resolution Plans
Executive Summary
Strategic Business Analysis
Preferred Resolution Strategy
Financial and Operational Continuity
Information and Communication Plan
Conclusion of Resolvability Assessment
Opinion of Institution
Info from firm required
Info from firm required
3 November 2017

7. Industry Dialogue Workshops
Content of Resolution Plans: 3rd November
Introduction to MREL and MREL setting: 6th December
Data liquidity template: February 21st 2018
Simplified Obligations: February 28th 2018
Critical Functions\Shared Services: March 21st 2018
3 November 2017

8. Information for Resolution Plans
Relevant, accurate and updated information on institutions is crucial in order for resolution authorities to draw up resolution plans and substantiate their resolvability assessment and resolution strategy
Draft Implementing Technical Standards (ITS) have recently been developed by the EBA on the information which institutions must provide to resolution authorities for the purpose of drawing up and implementing resolution plans
The ITS latest amends have been completed following a review of previously published BRRD forms and templates (from 2015), taking into account the recent experiences gained in the areas of resolution planning and supervisory reporting. The new framework is expected to be fully operational by 2019 when resolution authorities will collect information as of 31 December Thereafter, templates will be collected on an annual basis
3 November 2017

9. Resolution Plans Info Templates
This first block of templates collects general information on an institution. It enables the resolution authorities to map a group and locate and its various entities, identify the main distribution of assets and risk weighted assets, consolidation perimeters, and the main contact points
The second block will be used for a wide range of purposes such as defining the main financial intragroup interconnections within the group, setting and monitoring MREL or implementing bail-in strategies
The final (third) block of templates relates to identifying critical functions, mapping them across group entities and identifying which core business lines, services, financial market infrastructures and information support them. The preservation of critical functions is a central resolution objective and the identification of such functions and mapping across the group is a mandatory task for resolution authorities
A data point model is currently under consideration by the RCU. This will allow for an automated validated collection of data in a secure environment, whilst also significantly adhering to the cost focussed strategy of the Unit. It should also look to minimise the reporting burden for firms as much as possible
Today’s Focus
3 November 2017

10. Next Steps
The RCU will discuss any Cross-Border requirements with firms individually (ie with those who have head offices elsewhere within the EU)
Firms can begin to prepare for (or certainly start to think about) the 2018 implementation of the information templates
The RCU will now begin to work closely with firms on their templates with a proposed draft submission on 14th September – 1 year following the FSRCC Seminar
2018 update seminar proposed to take place in Q4 2018
3 November 2017

11. Questions
Comments
3 November 2017