The Single Resolution Board has today announced that the Single Resolution Fund’s target level remains reached at the end of 2024. “As a result, and unless circumstances change, banks will not need to contribute to the Single Resolution Fund for the coming year,” said SRB Chair Dominique Laboureix in Brussels. “The target level will be verified again at the beginning of 2026.”
The fund, paid for by industry and managed by the SRB, exists to provide confidence to the market should financial instability occur and it can be used to help ensure a troubled institution can be dealt with in an orderly fashion.
The Single Resolution Fund’s target level, of at least 1% of covered deposits held in Banking Union Member States, is verified annually. As of 31 December 2024, the Fund amounts to EUR 80 billion, which is above the 1% of covered deposits.
Therefore, unless needed, no collection of annual contributions is foreseen until the next verification exercise, due to take place towards the beginning of 2026.
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