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Recital 3

Recital 3

(3)A business reorganisation plan is to set out the measures envisaged to restore the long-term viability of the CCP. In order to maximise their chance of achieving their objectives, they should be suitable for the CCP’s clearing services, should take into account the economic and financial market conditions under which the CCP will operate, should consider any effect on the CCP’s relevant stakeholders, and should ensure both the continuity of the CCP’s critical functions and compliance with regulatory requirements. For a business reorganisation plan to be considered credible by the resolution authority and the competent authority, it should restore the CCP’s long-term viability based on realistic assumptions and explain the reasons why some alternative measures have been discarded from the business reorganisation plan.

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