The process to reach a joint decision on the group resolution scheme proposed under Article 91(4) or Article 92(1) of Directive 2014/59/EU shall comprise the following steps to be implemented:

1. (1)

   preparation of the draft group resolution scheme by the group-level resolution authority and communication to the resolution college members;

2. (2)

   consultation on the draft group resolution scheme at least among the resolution authorities of the entities covered by the group resolution scheme;

3. (3)

   preparation and communication of the joint decision on the group resolution scheme, by the group-level resolution authority to the resolution authorities of the subsidiaries covered by the group resolution scheme;

4. (4)

   finalisation of the joint decision on the group resolution scheme pursuant to Article 91(7) or of Article 92(3) of Directive 2014/59/EU;

5. (5)

   communication of the outcome of the joint decision to the resolution college members.

1. (1)

   The draft group resolution scheme shall be drawn up by the group-level resolution authority in accordance with Article 91(6) of Directive 2014/59/EU and shall include the following elements:

   1. (a)

      a description of the measures, if any, that need to be implemented in order to ensure that the group resolution scheme can be operationalised;

   2. (b)

      a description of legal or regulatory preconditions to be fulfilled, if any, for carrying out the group resolution scheme;

   3. (c)

      the time frame for executing the group resolution scheme as well as the timing and sequencing of each resolution action to be undertaken;

   4. (d)

      the allocation of tasks and responsibilities for the coordination of the resolution actions, external communication and internal communication to the members of the resolution college and contact information of the members of the resolution college;

   5. (e)

      a financing plan, on the basis of Article 107 of Directive 2014/59/EU, as appropriate and taking into account the need for mutualisation of the financing arrangements.

2. (2)

   For the purposes of point (a) of Article 91(6) of Directive 2014/59/EU, the group-level resolution authority shall ensure that the draft group resolution scheme includes:

   1. (a)

      an explanation why an alternative option to the resolution plan, pursuant to Article 13 of Directive 2014/59/EU, must be followed, including why the proposed actions are considered to more efficiently achieve the resolution objectives and principles referred to in Articles 31 and 34 of that Directive than the strategy and resolution actions provided for in the resolution plan;

   2. (b)

      an identification and description of elements of the group resolution scheme which depart from the resolution plan referred to Article 13 of Directive 2014/59/EU.

3. (3)

   The group-level resolution authority shall provide the draft resolution scheme to the members of the resolution college, without undue delay and with a time limit:

   1. (a)

      for consultation in accordance with Article 104;

   2. (b)

      for finalising the joint decision on the group resolution scheme in accordance with Article 106.

4. (4)

   The group-level resolution authority shall develop and communicate the draft group resolution scheme without undue delay and taking into account the time limits of Article 91 of Directive 2014/59/EU where applicable.

5. (5)

   The group-level resolution authority shall ensure that the time limits set out in paragraph 3 shall be adequate for the authorities to express their views taking into account the time limit set out in Article 91 of Directive 2014/59/EU, as applicable.

1. (1)

   The members of the resolution college receiving the draft group resolution scheme in accordance with Article 103(3) shall express their material diverging views or concerns, if any.

2. (2)

   Material divergent views and concerns may address all aspects of the draft group resolution scheme, including:

   1. (a)

      impediments, if any, in national law or otherwise to carrying out the group resolution scheme in accordance with the strategy and resolution actions;

   2. (b)

      any relevant updates to the information submitted for the mutualisation of the financing arrangements that could impact carrying out the financing plan;

   3. (c)

      the impact of the group resolution scheme or of the financing plan on the subsidiaries covered by the group resolution scheme in their respective Member State.

3. (3)

   Material divergent views and concerns shall be clearly set out in writing, which may include electronic format, and shall be fully reasoned.

   Material divergent views and concerns shall be expressed without undue delay recognising the urgency of the situation and by the time limit set in Article 103(3).

4. (4)

   Upon expiry of the time limit, the group-level resolution authority shall presume that all members who did not express divergent views or concerns have agreed to the group resolution scheme.

1. (1)

   Upon expiry of the time limit for consultation, the group-level resolution authority shall prepare the draft joint decision on the group resolution scheme in accordance with Articles 91 and 92 of Directive 2014/59/EU and, as applicable, Article 107 thereof.

2. (2)

   For the draft joint decision, the group-level resolution authority shall consider and take into account all concerns and divergent views expressed during the consultation and it shall make amendments to the group resolution scheme as appropriate.

3. (3)

   The group-level resolution authority shall provide reasoning on:

   1. (a)

      how it has handled the material divergent views and concerns expressed by the resolution authorities of the subsidiaries covered by the group resolution scheme for the purposes of the draft joint decision;

   2. (b)

      why and to what extent the advice of the EBA was not followed in the group resolution scheme, if a consultation with the EBA has been held.

4. (4)

   The draft joint decision shall include the following elements:

   1. (a)

      the names of the group-level resolution authority and the resolution authorities responsible for the subsidiaries covered by the group resolution scheme;

   2. (b)

      the name of the Union parent undertaking and a list of all entities within the group to which the group resolution scheme relates to and applies;

   3. (c)

      the references to the applicable Union and national law relating to the preparation, finalisation and application of the joint decision on the group resolution scheme;

   4. (d)

      the date of the draft joint decision on the group resolution scheme;

   5. (e)

      the final group resolution scheme, including any reasoning if needed in accordance with paragraph 3.

5. (5)

   The group-level resolution authority shall send the draft joint decision on the group resolution scheme without undue delay to the resolution authorities of the entities covered by the group resolution scheme setting a time limit for providing their agreement to the joint decision on the group resolution scheme.

1. (1)

   The resolution authorities receiving the joint decision in accordance with Article 105(5) and not disagreeing with it shall provide to the group-level resolution authority written evidence of their agreement, which may be sent by electronic means, before the established time limit.

2. (2)

   The final joint decision on the group resolution scheme shall consist of the final joint decision and the written evidence of agreement attached thereto.

1. (1)

   The final joint decision shall be transmitted without undue delay by the group-level resolution authority to the resolution authorities of the subsidiaries covered by the group resolution scheme.

2. (2)

   A summary of the joint decision on the group resolution scheme shall be communicated by the group-level resolution authority to members of the resolution college.