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Recital 83

Recital 83

(83)To ensure coordinated action at group level, resolution authorities should be invited to apply, within a group resolution scheme, the same tool to entities belonging to the group that meet the conditions for resolution. Group-level resolution authorities should thus have the power to apply the bridge undertaking tool at group level in order to stabilise a group as a whole and to transfer ownership of subsidiary undertakings to the bridge undertaking with a view to the onward sale of such subsidiary undertakings, either as a package or individually, when market conditions are appropriate. In addition, the group-level resolution authority should have the power to apply the write-down or conversion tool at parent level.

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