The competent authority shall submit the resolution plan and any update thereto along with the SIFI’s opinion, following its review in light of the SIFI’s feedback, to the Council of Economic and Development Affairs for approval.
2.
The Council of Economic and Development Affairs shall, within 60 days from receipt of the resolution plan or its update, decide to either approve the plan or return it with comments to the competent authority for resubmission within a period set by the Council.
