- For the first time, the SRB publishes the list with all the public consultations and regular requests to banks under its remit planned in 2024.
- This disclosure marks an important milestone in the SRB’s efforts to cater to the industry’s wish for more predictability and transparency, which is a key element of the upcoming SRB Vision 2028 strategy. It will allow banks to better allocate resources and anticipate workload throughout the year.
The Single Resolution Board (SRB) has today published the list of all public consultations, data requests and deliverables stemming from the Expectations for Banks (EfB) planned over the course of the year 2024.
Commenting on this initiative, SRB Chair Dominique Laboureix said: “This unprecedented disclosure shows the SRB’s unwavering commitment towards enhancing predictability on its policies and acting as a transparent regulator to banks under its remit.”
The list covers several types of consultations and requests to the industry, and takes into account resolution-related requests to the extent possible. The first table provides an overview of the public (voluntary) consultations on different policy topics that have a material impact on banks’ activities envisaged in 2024 and consultations foreseen by Union law. The second table features regular data requests and deliverables rooted in the EfB. The data requests stem either from the SRB or European Banking Authority (EBA) and feed into our teams’ assessment of bank resolvability and compliance with MREL requirements. Moreover, the second table includes deliverables introduced via the EfB, which the SRB requests depending on the resolution strategy endorsed in the plan and risk profile of the bank.
Bank-specific or ad hoc requests issued by Internal Resolution Teams (IRTs) were excluded from this exercise, given they are not relevant to all banks under the SRB’s remit. It is worth noting that a large share of items from the list have been introduced a few years ago (EfB deliverables) and therefore relatively mature. They are updated on a regular basis, usually when material changes are observed by the bank. On the other hand, certain requests related to testing for example, may come under increased scrutiny by IRTs in the future in line with the SRB’s overall move to the testing of banks’ operational capabilities.
The SRB reserves the right to announce additional consultations and (non-bank-specific) requests throughout the year in case of unforeseen circumstances. However, these would be announced with an appropriate notice period.
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