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Article 7 - Timetable for the implementation of the measures to be adopted to restore the CCP’s long-term viability

Article 7
Timetable for the implementation of the measures to be adopted to restore the CCP’s long-term viability

1. The timetable for implementing the measures referred to in Article 37(2), point (c), of Regulation (EU) 2021/23 shall cover all of the following aspects:

((a))

the overall timeline and the timeframes for implementing the measures set out in the business reorganisation plan;

((b))

a list of the envisaged main actions and steps, with allocated timelines, to be taken by the CCP to implement each measure set out in the business reorganisation plan;

((c))

the estimated target timeline for implementing the reorganisation measures set out in the business reorganisation plan;

((d))

a detailed timeline of planned interactions with the resolution authority and the competent authority;

((e))

a timeline for communicating with the public, taking into account the CCP’s internal and external communication strategy about the implementation of the measures set out in the business reorganisation plan;

((f))

a timeline for communicating with the relevant external stakeholders involved in the implementation of the measures set out in the business reorganisation plan, including clearing members and trade unions;

((g))

where applicable, a timeline for restoring the CCP’s compliance with its authorisation requirements under Regulation (EU) No 648/2012 and with the relevant requirements under Regulation (EU) 2021/23.

2. The CCP shall ensure that the timelines referred to in paragraph 1 are suitable, and enable an effective implementation of the measures set out in the business reorganisation plan.

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