Scope of the valuation; valuation report and supplementary components

(1) Having regard to its purpose under section 71 and to the principles of valuation under section 72, the valuation must state, for all liabilities, their ranking and their expected recovery rates in insolvency proceedings that would have been opened at the time the first resolution action, or the first participation of holders of relevant capital instruments, was taken. The valuation of the hypothetical insolvency proceedings under section 146 is carried out independently of the valuation under section 69.
(2) The valuer reports the results of the valuation to the resolution authority in writing (valuation report). The valuer also attaches the following documents as supplementary components of the valuation report: 1. an updated balance sheet, as of the valuation date, and a report on the financial position of the institution or group entity; 2. an analysis and an estimate of the book value of the assets attributable to the institution or group entity; 3. a statement of the on-balance-sheet and off-balance-sheet liabilities recorded in the books or other records of the institution or group entity, with particulars of the respective creditors and the respective underlying claims, and their ranking in insolvency proceedings.
(3) As a basis for the decisions of the resolution authority referred to in section 71, points 5 and 6, the analysis and estimate under subsection (2), second sentence, point 2, may be supplemented by an analysis or estimate of the value of the assets and liabilities of the institution or group entity based on market value.
(4) The resolution authority may transmit the valuation report, including its supplementary components, to the recipient legal entity and to the institution or group entity under resolution, where this is consistent with the resolution objectives. There is no legal entitlement to transmission of the valuation report.