On 19 September 2022, the Single Resolution Board (SRB) held its seventh annual conference under the title European banks: resolvable and ready for crisis?
The day’s discussions focused on the steps needed to take bank resolvability to the next step — for example, by moving on from creating resolution plans to testing them and demonstrating that they will work in practice.
Speakers agreed that the need for demonstrable implementation of resolution plans has become especially pressing considering current geopolitical and macroeconomic challenges likely to test financial stability. Topics touched on included the Russian war on Ukraine, rising energy costs, supply chain issues, and the continuing Covid-19 pandemic. Protecting banks’ profitability while balancing resolvability is critical as Europe faces a potential recession.
The day was structured into two speaker panels, and a “fireside chat” between outgoing SRB Chair Elke König and Nicholas Comfort, Banking Reporter for Bloomberg News. These discussions were complemented by diverse keynote speeches.
Although recognising the great progress already made in making EU banks resolvable, the tone of the conference was cautious. There was no denying that turbulent times lay ahead for Europe. In this context, maintaining a strong, resilient, and competitive banking sector has become more important than ever..
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