Final draft guidelines on the minimum list of services or facilities that are necessary to enable a recipient to operate a business transferred to it under Article 65(5) of Directive 2014/59/EU

To ensure the effectiveness of the partial transfer of the business of an institution or group, Directive 2014/59/EU establishes a number of powers ancillary to the resolution tools, including the power to require continuity of essential services from other parts of a group or, where the residual part of the institution is liquidated following the partial transfer of the business, to require services to enable the purchaser, bridge institution or asset management vehicle to carry out the activities or services transferred to it.The guidelines specify a core list that resolution authorities should consider requiring as a minimum and taking into account the specific circumstances of the case. The services are grouped in to categories under the following headings: (a) Human resources support; (b) Information technology; (c) Transaction processing, including legal transactional issues, in particular anti-money laundering and anti-terrorism financing; (d) Real estate and facility provision or management; (e) Legal services and compliance functions; (f) Treasury-related services; (g) Trading/asset management; (h) Risk management and valuation; (i) Accounting; (j) Cash handling