SRB’s Resolution Planning Cycle 2024 under the spotlight

Find out more about the SRB’s 2024 resolution planning cycle (RPC) in our new publication. The SRB launched the RPC for banks under its remit in April, with more than 100 resolution plans expected to be adopted. 

The publication informs stakeholders about the SRB’s resolution planning activities and describes the main processes and phases of the current RPC.

Resolution plans include, the preferred resolution strategy, the minimum requirements for own funds and eligible liabilities (MREL) and the resolvability assessment. The plans are prepared by the SRB in cooperation with the National Resolution Authorities (NRAs) and updated on an annual basis taking into account changes in the market and in banks themselves, to make sure that there are ready-to-go plans that can be immediately operational if needed. Countries outside the Banking Union enjoy observer status in the preparation. 

In line with the SRM’s new strategy, Vision 2028, this year the SRB will have a greater focus on testing banks’ resolvability and the operationalisation of the resolution strategies defined in the resolution plans. 

Speaking in Brussels, SRB Chair, Dominique Laboureix said “Resolution planning is about being prepared to deal with failing banks in a controlled way, in order to protect taxpayers and keep providing critical functions to the economy while preserving financial stability. The Resolution Planning Cycle is an essential part of the plan to protect that stability.”

The RPC aligns the resolution planning of the banks under the SRB remit on the same 12-month cycle running from April to March.