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Following the European Central Bank’s assessment of AS PNB Banka as failing or likely to fail, the Single Resolution Board has today decided that resolution action is not necessary. The Latvian bank will be wound up under national law.

The SRB assessed...

The Single Resolution Board and the European Commission have signed a Memorandum of Understanding in order to further strengthen their cooperation. The two authorities share the objectives of ensuring the orderly resolution of failing banks while...

The Single Resolution Board (SRB) today announced that the Single Resolution Fund (SRF) received a cash injection of €7.8 billion from 3,186 institutions for the year 2019. This brings the total amount in the SRF to just under €33 billion. The target size...

Brussels – 03 07 2019

The Single Resolution Board (SRB) has today published a paper outlining its approach to an important element of the resolution framework, the Public Interest Assessment (PIA).

The PIA examines whether the resolution of a particular...

SRB Update on the Banco Popular Español Right To Be Heard Process

In light of the questions received by the SRB via e-mail in relation to Valuation 3 and the ‘right to be heard’ process, the SRB would like to inform you that it is currently assessing the...

‘Complete resolution plans for all banking groups under SRB remit by 2020,' says Elke König 

Brussels – 01 07 2019

The SRB today published its 2018 Annual Report, which gives an overview of its work and highlights achievements and progress. 

Work on...

The Single Resolution Board has today published an update to its policy on minimum requirement for own funds and eligible liabilities (MREL) in light of the publication of the Banking Package in the Official Journal of the EU on 7 June 2019.

The Single Resolution Board (SRB) has published its Introduction to Resolution Planning. This publication describes the Single Resolution Mechanism (SRM) and its work on resolution planning.

A resolution plan comprises a comprehensive description of a...

The SRB has the mandate to ensure resolvability of all the banks under its remit. The SRB expects all banks active in the Banking Union to meet a specific set of resolvability conditions. This position paper, published in November 2018, focuses on six...

The Single Resolution Board (SRB) announces the appointment of Mr Sebastiano Laviola as Member of the Board and Director of Resolution Strategy and Cooperation. He will take up his duties on 1 May, 2019.

Mr Laviola, an Italian national, is a Central...

Senior officials representing resolution, regulatory and supervisory authorities, central banks, and finance ministries in the United States, the United Kingdom, and the European Banking Union will hold a meeting on Saturday, April 13, as part of a series...

Brussels – 27 03 2019

The European Commission, in consultation with the Single Resolution Board (SRB), has launched the process to select and appoint three new Board Members.

The terms of office for the Board Members appointed in 2014, which are not...

In accordance with the Single Resolution Mechanism Regulation, the entities and groups (142 as of 1 June 2016) which currently fall under the direct responsibility of the SRB are the following:

(1) the entities and groups directly supervised by the...

Brussels – 19 February 2019

The Single Resolution Board (SRB) has today published its Framework for Valuation.

The objective of this Framework for Valuation is to provide independent valuers and the general public with an indication of the SRB’s...

The Nordic and Baltic financial stability authorities have conducted a joint financial crisis management exercise. The exercise was held from 22 to 23 January 2019 and involved 31 authorities from Denmark, Estonia, Finland, Iceland, Latvia, Lithuania...

Brussels – 16/01/2019

The Single Resolution Board (SRB) has today published the second part of its 2018 policy on the minimum requirement for own funds and eligible liabilities (MREL) pertaining to the second wave of resolution plans; i.e. the plans...

On the 15th October 2018, the Single Resolution Board held its annual conference in Brussels. This event - occurring ten years after the financial crash that eventually brought the SRB into existence - gave panellists and speakers the opportunity to...

The Single Resolution Board (SRB), together with the Banking Union national resolution authorities (NRAs) publishes its 2018 policy statement on the minimum requirement for own funds and eligible liabilities (MREL), which serves as a basis for setting...

The Single Resolution Board (SRB) has today published its 2019 Work Programme, setting out its priorities and core tasks for the year ahead. The SRB’s main duty is to ensure that every bank is resolvable and thus help contribute to financial stability in...

The Single Resolution Board (SRB) has signed Cooperation Arrangements with the Central Bank of Brazil and the National Bank of Serbia.

The new arrangements further strengthen existing close cooperation in order to maintain financial stability. Given the...

The Single Resolution Board (SRB) has signed Cooperation Arrangements with Mexico’s Institute for the Protection of Bank Savings (IPAB) and the Bank of Albania.

The new arrangements further strengthen existing close cooperation in order to maintain...

As previously announced, the SRB is opening the second phase of the right to be heard process. Former shareholders and creditors of BPE affected by the resolution actions and deemed eligible in the registration phase will be able to submit their written...

The Common Backstop to the Single Resolution Fund was agreed in principle by Member States in 2013 and will enhance the credibility of the resolution framework in the Banking Union. The ESM was agreed as the provider of the Common Backstop by the Euro...