SRB launches 2020 Annual Report

The SRB today published its 2020 Annual Report detailing the progress made in promoting financial stability while protecting the taxpayer through Europe's banking resolution framework.

In 2020, despite the pandemic, the SRB continued to make progress in strengthening the resolution of banks, implementing resolution policies, progressing on the operationalisation of the early introduction of the common backstop and intensifying dialogue with banks, key resolution and supervisory authorities – in Europe and Internationally.

The SRB focused its work on a uniform 12-month resolution planning cycle, further reinforcing the resolvability of SRB entities and less significant institutions (LSIs), as well as preparing and carrying out effective crisis management. 2020 also saw the announcement of the early introduction of the common backstop to the Single Resolution Fund, which will come into operation in 2022.

In addition, the SRB published guidance documents in particular for bail-in operationalisation in close collaboration with national resolution authorities, and released its standardised data set to ensure that the minimum needed data is available to support a robust valuation for bank resolution.

The SRB also proactively reached out to stakeholders and the general public by updating its Expectations for Banks (EfB) document to reflect industry feedback. This document provides guidance to banks to reach resolvability stepwise by 2024.

You can find the Annual Report below: