Regulation on the Minimum Requirements for the Design of Recovery Plans for Institutions
The Regulation on the Minimum Requirements for the Design of Recovery Plans for Institutions (Verordnung zu den Mindestanforderungen an Sanierungspläne für Institute (Sanierungsplanmindestanforderungsverordnung, or MaSanV) was promulgated in the Federal Law Gazette on 31 March 2020 and entered into force on 1 April 2020.
The MaSanV details the requirements for the design of recovery plans (Section 2), the content of simplified requirements for recovery plans (Section 3), and the application process, conditions and the design of recovery plans by institutional protection schemes (Section 4). In addition to the MaSanV, recovery plans are also subject to requirements under the Resolution and Recovery Act (Sanierungs- und Abwicklungsgesetz, or SAG) and Commission Delegated Regulation (EU) 2016/1075.
In addition, BaFin has published an information notice on recovery planning. The notice explains the interplay between individual recovery plan requirements and contains guidance aimed at enhancing understanding of the requirements.