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Article (11): Business Continuity arrangements

C 4/2023
11.1The recovery plan must include:
 
 11.1.1An assessment of the additional requirements to which the Financial Institution may potentially become subject during crisis situations to maintain its membership of Financial Market Infrastructures, such as, for example, the prefunding or collateralising of positions, and measures to address them such as plans for the sourcing of additional collateral and the impact this in turn may have on the Financial Institution; and
 
 11.1.2Appropriate contingency arrangements to enable the Financial Institution to continue operating during the implementation of its recovery options. At a minimum, these arrangements must cover infrastructure and IT systems, key suppliers and key Staff, and be consistent with the Financial Institution’s other business continuity arrangements.
 
11.2Financial Institutions must ensure that key service level agreements are not terminated as a result of recovery events and that contracts allow for their transfer to third parties.