Resolution planning is about being prepared to deal with failing banks in a controlled way, in order to protect taxpayers and keep providing critical functions to the economy while preserving financial stability.
To safeguard the resolution objectives, the resolution plans are updated on an annual basis taking into account changes in the market and in banks themselves, to make sure that there are ready-to-go plans that can be immediately operational if needed.
The resolution planning cycle (RPC) aligns the resolution planning of the banks under the SRB remit on the same 12-month cycle running from April to March.
The booklet informs stakeholders about the SRB’s resolution planning activities and describes the main processes and phases of the current Resolution Planning Cycle.
Approach in 2022
Policy implementation milestones in 2022
Updating the SRB polices and operational guidance documents, among others, taking into account the experience gained
Conducting close monitoring of resolvability and preparation of the substantive impediments procedure for those banks which show insufficient progress towards achieving resolvability in line with the EfB.
Conducting ongoing MREL monitoring to ensure build-up towards the final targets by the 1 January 2024 general deadline, as well as monitoring the 2022 intermediate targets.
To further develop deep-dive assessments, paving the way for conducting future on-site inspections.
Start of the preparation of the 2023 RPC, taking into account that 2023 is the final year for all SRB banks to be fully resolvable, in line with the EfB; banks will receive bank-specific 2023 SRB priority letters in September 2022.