On the 1st of January, Croatia became the 20th EU country to join the Eurozone.
Back in October 2020, Croatia joined the Single Resolution Mechanism (SRM) following the decisions by the European Central Bank (ECB) to establish close cooperation with the Croatian National Bank (Hrvatska narodna banka). The SRB became the resolution authority for its significant institutions, cross-border groups and less significant institutions.
The SRM, made up of the SRB and the national resolution authorities in Banking Union countries, protects financial stability and the taxpayer by planning for and managing bank failures.
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The rules on bank failure put in place after the financial crisis have ensured resilience and stability in the EU banking sector. However, experience...