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“10 years after the crisis: are banks now resolvable?”
Brussels – 15 October 2018
Today, the Single Resolution Board (SRB) is holding its third conference in Brussels, which will look into whether banks are now resolvable and will consider what...
The resolution of banks is a specific insolvency procedure, introduced as an alternative to liquidation under national laws. Under the EU regulatory framework, resolution only applies where resolving a failing bank is in the public interest – be it out of...
A key task of resolution authorities (RA) is to ensure financial stability and continuity of critical services of a failed bank so that it can meet all obligations due after resolution. To achieve this RA have been given a number of tools. However, while...
As of 30 June 2018, the Single Resolution Board (SRB) had collected €7.5 billion from 3,315 institutions in annual ex-ante contributions to the Single Resolution Fund (SRF). In total, the SRF now holds an amount of €24.9 billion.
The target size of...
The Single Resolution Board (SRB) announces the decision of Mr Mauro Grande, Board Member and Director of Resolution Strategy and Cooperation to leave the SRB.
Mr Mauro Grande, Board Member and Director of Resolution Strategy and Cooperation, who has...
The SRB welcomes clarifications and guidance provided by the SRB Appeal Panel in its new decisions. The SRB is currently analysing these decisions and assessing the steps that need to be taken to implement them.
On 19 June 2018, the SRB Appeal Panel...
Following any resolution action, the Single Resolution Board (SRB) needs to ensure compliance with the ‘no creditor worse off principle’. In this regard, a so-called ‘Valuation 3’ needs to be performed by an independent person as soon as possible after...
On 26 March 2018, Mr Yves Herinckx resigned as Vice-Chair and Member of the Appeal Panel.
The Chair of the SRB and the Chair of the Appeal Panel thank Mr Herinckx for his valuable contributions and notably his support in the building up phase of the SRB...
“Implementing EDIS would centralise deposit guarantee funds and align the EU and US more closely."
Given the importance of coordination for managing the failure of international banks, the SRB will strive to work with international authorities to make...
Once the Banking Union is completed there is little reason for ring-fencing writes Elke König
The European Commission’s risk reduction package proposes to implement important international provisions in order to reduce risks and achieve further progress...
MREL is a key tool to improve banks’ resolvability and safeguard taxpayers’ money, writes Elke König
As the SRB keeps saying, MREL is a journey. It is a journey with a clear destination – to ensure banks’ resolvability, thereby strengthening financial...
Brussels – 19 March 2018
The Single Resolution Board (SRB) announces the appointment of Mr Boštjan Jazbec as Member of the Board and Director of Resolution Planning and Decisions.
Mr Boštjan Jazbec, a Slovenian national, has been serving as...
The SRB Appeal Panel confirms that full disclosure of the Provisional Valuation Report would raise financial stability concerns. At the same time, it decided that the SRB should make public elements of the Valuation Report it considers to be of a non...
On 8 January 2018, Commission Delegated Regulation (EU) No 2361/2017 of 14 September 2017 on the final system of contributions to the administrative expenditures of the SRB came into force. This Delegated Regulation replaces the transitional system that...
Following the decision by the European Central Bank to declare ABLV Bank, AS and its subsidiary ABLV Bank Luxembourg S.A. as ‘failing or likely to fail’, the Single Resolution Board (SRB) has decided that resolution action is not necessary as it is not in...
Brussels, 2 February 2018
The Single Resolution Board (‘SRB’) published today an ‘extensive’ non-confidential version of the Resolution Decision, the Valuation Reports and the 2016 Resolution Plan. To make as much information publicly available as...
22 December 2017
The Cooperation Arrangement (CA) between the Single Resolution Board (SRB) and the Canada Deposit Insurance Corporation (CDIC) further strengthens the close cooperation between the two organizations in compliance with the legal...
The SRB is currently preparing a non-confidential version of the Valuation Report made by an independent expert and of certain other documents related to the resolution of Banco Popular.
In its recent decisions on cases 38/17 to 43/17, the SRB Appeal...
The Single Resolution Board (SRB), together with the Banking Union national resolution authorities (NRAs) publishes its 2017 policy statement on the minimum requirement for own funds and eligible liabilities (MREL), which serves as a basis for setting con...
On 18 December, the mandate of Ms Elke König, Chair of the Single Resolution Board (SRB) was extended for additional five years as of 23 December 2017. Ms König was appointed Chair of the SRB at the end of 2014 for an initial period of three years.
Yester...
14 December 2017
The Cooperation Arrangement (CA) between the Single Resolution Board (SRB) and the Federal Deposit Insurance Corporation (FDIC) further strengthens the close cooperation between the two organizations in compliance...
Brussels – 23 June 2017
Following today’s decision taken by the European Central Bank to declare Banca Popolare di Vicenza S.p.A. and Veneto Banca S.p.A. as ‘failing or likely to fail’, the Single Resolution Board has decided that resolution action...
As of 30 June 2017, the Single Resolution Board (SRB) had collected €6.6 billion from 3,512 institutions in annual contributions to the Single Resolution Fund (SRF). In total, the SRF now holds an amount of €17.4 billion.
The SRF pools contributions...