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The Single Resolution Board today brings together industry, public authorities and key stakeholders to discuss progress and challenges for bank resolution. The key topics will be the impact of the Covid-19 pandemic on the industry and resolvability...
The Single Resolution Board takes note of the judgments of the General Court of the European Union annulling the SRB’s decisions on the 2017 ex-ante contributions of Landesbank Baden-Württemberg, Hypo Vorarlberg Bank and Portigon to the Single Resolution...
The COVID-19 pandemic constitutes an unprecedented global shock. The latest economic forecasts point at the deepest recession since World War II and, at this stage, we do not yet know its full and final impact on the economy: it remains a very large...
When talking about the predictability of the resolution framework, one has to state clearly, that we have a viable system in place, providing clear rules on using resolution tools and allocating losses in case of a bank failure. For example, a harmonised...
The Single Resolution Board has today published a new set of documents to give operational guidance to banks on the implementation of the bail-in tool.
The documents include guidance on bail-in playbooks and instructions for bail-in data sets, which are...
The Single Resolution Board (SRB) today publishes operational guidance on operational continuity in resolution (OCIR) and on FMI contingency plans. This follows the publication, following consultation, of the SRB Expectations for Banks document, which...
The Single Resolution Board (SRB) plans for and manages bank failures in such a way that the public interest is safeguarded. The bank resolution framework was put in place for banks whose collapse might shake other parts of the economy. In these cases...
The Single Resolution Board today announced that the Single Resolution Fund received an increase of €9 billion from 3,066 institutions for the year 2020. This brings the total amount in the SRF to approximately €42 billion.
“The Fund is being steadily...
Bulgaria and Croatia will join the Single Resolution Mechanism, following the decisions by the European Central Bank to establish close cooperation with the Bulgarian National Bank (Българска народна банка) and Croatian National Bank (Hrvatska narodna...
Over the past few months, there has been an understandable focus on dealing with the effects of the Covid-19 outbreak on our economies. However, we should not forget some of the other challenges facing the European financial sector, among them the fact...
Both because of its global scale and dramatic social and economic impact and because continued uncertainty regarding its ultimate scope and consequences, the crisis resulting from the Covid-19 pandemic is an unprecedented challenge being faced by global...
The SRB today published its 2019 Annual Report detailing the progress made in promoting financial stability while protecting the taxpayer through Europe's banking resolution framework.
In 2019, the SRB further strengthened and updated the resolution plans...
The SRB premises are open in line with the Belgian government's guidelines for social distancing and hygiene measures. Staff members are combining work in the office and teleworking on a weekly shift basis. No external visitors or meetings will be held in...
The economic shock of the Covid-19 outbreak has put the financial industry again in the spotlight – this time as vital players in mitigating the effects of the crisis, supported by national and European authorities. While the European banking sector...
Registration for the 2020 SRB Conference are open. Catch up with the agenda and speakers and register now.
Today, the Single Resolution Board (SRB) publishes its final ‘Minimum Requirements for Own Funds and Eligible Liabilities (MREL) Policy under the Banking Package’, along with an overview of the SRB responses to the industry consultation. The consultation ...
New consultation covers minimum data needed for valuation of bank in resolution
The Single Resolution Board (SRB) today launches a public consultation on its ‘standardised Data Det’ to ensure that a minimum level of data is available to support a robust...
The COVID-19 outbreak has left us in uncharted waters, with the ultimate effects on the global economy and the banking industry still unknown. However, the resolution framework put in place after the financial crisis means we have a steadier hand on the...
A centralized liquidation regime in the EU would address the current gap in the framework for medium-sized banks
This year marks the SRB’s fifth anniversary – an appropriate time to reflect on how the crisis management framework has worked so far and...
Trust among authorities is the main driver to overcome ring-fencing attempts
Resolution strategies for banking groups with subsidiaries in several countries can follow either a single point of entry (SPE) or a multiple point of entry (MPE) approach. For...
In this blog, I would like to provide additional clarity on the SRB’s approach to minimum requirements for own funds and eligible liabilities (MREL), taking the impact of the COVID-19 crisis into account.
First of all, the banking industry has made...
The Single Resolution Board (SRB) today publishes its final ‘Expectations for Banks’ document, along with an overview of SRB responses to the industry consultation. The consultation took place between 23 October and 4 December 2019.
The ‘Expectations for...
With this blog post, I will explain the SRB’s approach to the uncertainty and disruption caused to the Euro Area economy by the COVID-19 outbreak.
The world is facing an extraordinary challenge. The pandemic is having a severe effect on people’s health...
Letter from SRB Chair Elke König to banks under the SRB's remit, outlining potential operational relief measures related to the COVID-19 outbreak.
The Single Resolution Board (SRB) has decided that no compensation is due to shareholders and creditors affected by the resolution of Banco Popular Español, S.A. (BPE). It concluded that they would not have been better off under normal insolvency...