The SRB has announced that it will launch a consultation process on the 2022 ex-ante contributions to the Single Resolution Fund (SRF) on 3 March 2022.
This will give banks and credit institutions required to pay annual contributions to the SRF the opportunity to view the SRB’s preliminary decision on their calculation prior to its adoption and to comment on aspects pertinent to the calculation exercise. Any comments received by the SRB in this context will be carefully considered in order to complete the decision-making process.
The aim of the consultation is to:
- better structure the communication between the SRB and the institutions;
- and enhance the transparency and robustness of the ex-ante contributions process further.
Approximately 3,000 banks and other financial institutions, across the 21 EU countries that make up the Banking Union, will contribute to the SRF in 2022. The SRF is an emergency fund to support bank resolution, and is being built up over eight years between 2016 and 2023. It was created following the financial crisis of 2008/2009 and is an important tool in the EU’s financial stability toolbox.
Banks and other financial institutions that contribute to the SRF, and wish to provide their comments on the 2022 ex-ante contributions decision-making process, are invited to consult the following page for more information.
Questions & Answers
What are the banks and other financial institutions being consulted on?
They are being invited to comment on the preliminary findings of the SRB for the calculation of ex-ante contributions to the SRF for 2022.
When are they being asked to comment?
Institutions will access the EU Survey via the password they received in the SRB Kick-off letter sent in September 2021.
What will happen to these comments?
They will be carefully examined and taken into account in the decision-making process for calculation of the 2022 ex-ante contributions to the SRF.
What is the added value of the Consultation?
The consultation is aimed at providing in-scope banks input into the decision-making process for the calculation of ex-ante contributions for the current cycle, thereby enhancing the transparency and the robustness of the decision-making process in general. In this regard, banks are given the opportunity to review the preliminary decision on the calculation of the 2022 ex-ante contributions to the SRF and to submit comments via an online survey tool. These comments will be analysed by the SRB and taken into consideration for the purposes of the decision-making process.
Has the calculation method changed for 2022?
No. The calculation method has not changed from previous years.
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