SRB Work Programme 2023 marks ‘end of transition phase’ for banks

The SRB publishes today its 2023 Annual Work Programme, setting out its objectives and priorities for the year ahead. It is the final year of the Multi-Annual Programme (MAP) for 2021-2023. The SRB is committed to ensuring banks make themselves fully resolvable by the end of the coming year, building on the progress achieved so far.

‘The SRB’s 2023 Work Programme is set against the current challenging geopolitical and economic environment.  The reforms put in place after the financial crisis, in particular the Banking Union, have been a game changer. Banks are better prepared than ever to deal with the challenges ahead and the SRB, together with the NRAs, is committed to ensuring the resolvability of banks and its own crisis readiness.’ - Elke König, SRB Chair.

The SRB priorities stay unchanged, in line with the SRB’s 2021-2023 Multi-Annual Programme. The focus for the year ahead will be on achieving resolvability of SRB entities and less significant institutions, fostering a robust resolution framework, carrying out effective crisis management, operationalising the Single Resolution Fund, and targeting improvements to areas such as IT and organisational structure.

‘2023 will be a transitional and a decisive year. It is the year where we end the transitional time given to SRB banks to build up the required MREL and to become resolvable. The plans are in place. Now it is about testing and fine-tuning and beefing up our crisis management capabilities. 2023 also marks the end of the eight year build-up period for the Single Resolution Fund. I have no doubt the SRB, through its work programme for 2023, will continue to protect the taxpayer from having to bail out banks, while ensuring the continuity of essential services such as access to savings, loans and payment systems.’ - Elke König, SRB Chair.

Work programme 2023

PDF | 3.57 MB | Publishing date: 18/11/2022 | Decision date: 18/11/2022

Work programme 2023