The Single Resolution Board (SRB) takes note of today’s judgments of the General Court of the European Union on the 2021 ex-ante contributions to the Single Resolution Fund vis-à-vis seven credit institutions in France and Germany.
The SRB notes that Court did not find any flaws affecting the substance of the decisions in these cases, however, it considered that the SRB did not provide sufficient reasons in setting the annual target level for ex-ante contributions to the Single Resolution Fund, which is an industry-funded crisis fund for use in resolving failing banks.
SRB Chair Dominique Laboureix said: “Despite the annulment on procedural grounds, the Court’s decision provides legal clarity for the Single Resolution Fund, which is a key element of financial stability in Europe, as well as for our stakeholders.”
The SRB will carefully consider the content of the judgments in order to determine the next steps, in cooperation with the relevant National Resolution Authorities.
Contact our communications team
Recent press releases
- The SRB is extending the deadline for the minimum bail-in data template (MBDT) public consultation to 15 May 2024, offering stakeholders additional...
Karen Braun-Munzinger to succeed Sebastiano Laviola as Director of Resolution Policy Development and Coordination in May
The SRB welcomes the...
SRB Chair Dominique Laboureix is taking part in the Trilateral Principal Level Exercise (TPLE) in Washington on Saturday, 20 April, joining heads of...
Related news and press releases
The European Central Bank and the Single Resolution Board have signed a Memorandum of Understanding (MoU) on the exchange of certain types of...
- Proposed legislative changes seen as important and pragmatic step forward
- ECB and SRB ready to provide technical input on proposals to ensure...
- Newly published documents show how the Single Resolution Board (SRB) came to its decisions on the Sberbank entities in Austria, Slovenia and...