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The Single Resolution Board has today published an update to its policy on minimum requirement for own funds and eligible liabilities (MREL) in light of the publication of the Banking Package in the Official Journal of the EU on 7 June 2019.
The Single Resolution Board (SRB) announces the appointment of Mr Sebastiano Laviola as Member of the Board and Director of Resolution Strategy and Cooperation. He will take up his duties on 1 May, 2019.
Mr Laviola, an Italian national, is a Central...
Senior officials representing resolution, regulatory and supervisory authorities, central banks, and finance ministries in the United States, the United Kingdom, and the European Banking Union will hold a meeting on Saturday, April 13, as part of a series...
As the mandate of the current European Commission and Parliament draws to an end, it is worth reflecting on the progress made, as well as the priorities on the resolution framework for the next EU legislature.
From the perspective of the Single...
Extensive literature exists on the benefits of financial integration and consolidation of banks. From the perspective of the Single Resolution Board, whose mandate focuses on achieving banks’ resolvability, having strong European banks is a natural...
Brussels – 27 03 2019
The European Commission, in consultation with the Single Resolution Board (SRB), has launched the process to select and appoint three new Board Members.
The terms of office for the Board Members appointed in 2014, which are not...
In accordance with the Single Resolution Mechanism Regulation, the entities and groups (142 as of 1 June 2016) which currently fall under the direct responsibility of the SRB are the following:
(1) the entities and groups directly supervised by the...
Brussels – 19 February 2019
The Single Resolution Board (SRB) has today published its Framework for Valuation.
The objective of this Framework for Valuation is to provide independent valuers and the general public with an indication of the SRB’s...
The Nordic and Baltic financial stability authorities have conducted a joint financial crisis management exercise. The exercise was held from 22 to 23 January 2019 and involved 31 authorities from Denmark, Estonia, Finland, Iceland, Latvia, Lithuania...
Brussels – 16/01/2019
The Single Resolution Board (SRB) has today published the second part of its 2018 policy on the minimum requirement for own funds and eligible liabilities (MREL) pertaining to the second wave of resolution plans; i.e. the plans...
On the 15th October 2018, the Single Resolution Board held its annual conference in Brussels. This event - occurring ten years after the financial crash that eventually brought the SRB into existence - gave panellists and speakers the opportunity to...
The Single Resolution Board (SRB) has today published its 2019 Work Programme, setting out its priorities and core tasks for the year ahead. The SRB’s main duty is to ensure that every bank is resolvable and thus help contribute to financial stability in...
The Single Resolution Board (SRB) has signed Cooperation Arrangements with the Central Bank of Brazil and the National Bank of Serbia.
The new arrangements further strengthen existing close cooperation in order to maintain financial stability. Given the...
The Single Resolution Board (SRB) has signed Cooperation Arrangements with Mexico’s Institute for the Protection of Bank Savings (IPAB) and the Bank of Albania.
The new arrangements further strengthen existing close cooperation in order to maintain...
As previously announced, the SRB is opening the second phase of the right to be heard process. Former shareholders and creditors of BPE affected by the resolution actions and deemed eligible in the registration phase will be able to submit their written...
Registered shareholders and creditors deemed eligible will be invited to submit their written comments to the SRB from 6 November 2018
The Single Resolution Board (SRB) is currently finalising its preparations so that affected shareholders and creditors...
“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...