Article 11 Feasibility assessment

Each recovery option shall contain a feasibility assessment, which shall include at least:

1. (a)

   an assessment of the risk associated with the recovery option, drawing on any experience of executing the recovery option or an equivalent measure;

2. (b)

   a detailed analysis and description of any material impediment to the effective and timely execution of the plan and a description of whether and how such impediments could be overcome;

3. (c)

   where applicable, an analysis of potential impediments to the effective implementation of the recovery option which result from the structure of the group or of intra-group arrangements, including whether there are substantial practical or legal impediments to the prompt transfer of own funds or the repayment of liabilities or assets within the group;

4. (d)

   solutions to the potential impediments identified in points (b) and (c).

For the purposes of paragraph 1, a material impediment shall include any factor that could potentially negatively affect the timely execution of the recovery option including, in particular, legal, operational, business, financial, and reputational risks such as any risk of a credit rating downgrade.