  Domestic SIFIs will be required to submit plans for all strategic decisions to the NBB, which has the power to veto these decisions if they are judged to have a negative impact on the institution’s risk profile or on the financial system. D-SIFIs will also have to comply with special reporting requirements and will need to develop recovery and resolution plans.
  The recovery plan – which is developed by the bank – outlines the different options that can be taken in response to a major shock to its liquidity or solvency. The resolution plan, developed by authorities, outlines options for cases where the recovery plan of an institution has not succeeded. 3.