Chapter 7, on “Resolution Planning”, deals with the general aspects governing, under the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR), the drawing up, adoption, and updating of resolution plans by the Single Resolution Board (SRB) and national resolution authorities (NRAs) within the Single Resolution Mechanism (SRM); the content of these plans for individual entities (where also the resolution objectives and the determination of critical functions and core business lines are discussed); the content of group resolution plans; the assessment of resolvability including the credibility and feasibility of liquidation under normal insolvency proceedings (NIPs), the identification of a resolution strategy and the assessment of its feasibility and credibility; and the work of the Single Resolution Board (SRB), with emphasis on its ‘Expectations for Banks’ document and the ensuing operational guidance to credit institution.