The Single Resolution Board has today published its Annual Report for 2023. The report details the work of the SRB and highlights the progress made in making the European banking sector more resolvable and resilient.
The year 2023 saw key milestones met: the Single Resolution Fund reached its target level, all banks under the SRB’s remit met their MREL requirements at the due date and the SRB’s second resolvability assessment confirmed that banks have made material progress towards their resolvability.
The SRB also developed its new strategy – SRM Vision 2028 – which will shape the Single Resolution Mechanism for the next five years.
“The events of early 2023 are a stark reminder that we must remain vigilant as threats to the banking sector can unfold quickly. The SRB will continue to work to be crisis ready and to ensure that financial stability, and taxpayers, are protected,” said SRB Chair Dominique Laboureix.
The report will be officially presented at the European Parliament’s ECON committee.
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