Provisional valuation

(1) Where a valuation satisfying all the requirements of sections 70 to 73 cannot be carried out, or cannot be carried out in time before a resolution order is applied, the resolution authority may carry out a provisional valuation of the assets and liabilities of the institution or group entity.
(2) The requirements of sections 71, 72 and 73(1) apply correspondingly to the provisional valuation, insofar as this is appropriate and feasible in the individual case, having regard to the urgency involved.
(3) The provisional valuation must include, and provide adequate reasons for, a buffer for additional losses.
(4) The provisional valuation is a valid basis for the resolution authority to take resolution action, including taking control of the institution or group entity under resolution and applying the instrument for the participation of holders of relevant capital instruments.