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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...
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...
Following European Commission and Belgian government decisions, SRB staff is teleworking as from Monday, March 16 until further notice. The SRB continues to monitor the situation and remains fully operational. Staff remain contactable via email or phone.
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At the height of the financial crisis, a survey showed that most young adults would rather go to the dentist than listen to a banker. That’s a painful finding on various levels. Arguably the financial sector lost the trust of the general public during the...
The Single Resolution Board (SRB) today launches a public consultation on a number of substantial changes to its policy on the Minimum Requirement for Own Funds and Eligible Liabilities (MREL). These changes bring the policy in line with the amendments...
The Single Resolution Board (SRB) is pleased to announce the appointment of Jan Reinder De Carpentier as Vice-Chair and Pedro Machado and Jesús Saurina as Members of the Board and Directors of Resolution Planning and Decisions. They will take up their...
Single Resolution Board and Japan’s Financial Services Agency exchange letters enhancing cooperation
The Single Resolution Board (SRB) and Japan’s Financial Services Agency (FSA) have agreed to cooperate on resolution planning for banks, through an exchange of letters. The letters were signed on 11 October 2019 in Tokyo at the EU-Japan Joint Financial...
The Single Resolution Board (SRB) is moving into the final phase of the right to be heard process regarding its preliminary decision whether to compensate the shareholders and creditors affected by the resolution actions concerning Banco Popular Español S...
The EU’s banking resolution authority, the Single Resolution Board (SRB), has today outlined what it expects will happen after the UK formally leaves the EU.
Under the Withdrawal Agreement agreed between the UK and the EU27, there will be a Transition...
Welcome to our new blogging series!
Look out for our next SRB Insights in 2020, we will invite authors from other EU institutions but also from the industry and academia to blog on our latest online platform. Different voices, different opinions, all...
The Single Resolution Board’s procedure to assess applications to reduce eligible liabilities instruments under Article 78a of the Capital Requirements Regulation will remain in place until the relevant European Banking Authority’s Regulatory Technical...
On 10 October 2019, the Single Resolution Board (SRB) held its fourth annual conference. In contrast to previous years’ events, which focused on policy development and definition of resolvability mechanisms, this year’s discussions tackled topics related...