Banking Union – Single Resolution Board collects over 10 billion euros in contributions to the Single Resolution Fund

Brussels – 6 July 2016

On 30 June 2016, the Single Resolution Board (SRB) collected 6.4 billion euros in contributions to the Single Resolution Fund (SRF). Today, the SRB is pleased to report that it has collected over 10 billion euros in contributions in total from nearly 4000 banks and investment firms via the National Resolution Authorities (NRAs).

Following the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund ("IGA"), an amount of 4.3 billion euros of 2015 ex-ante contributions had been transferred to the Single Resolution Fund at the end of January 2016.

The Single Resolution Fund will be built up during the transitional period of eight years (2016-2023) and will reach at least 1% of covered deposits within the Member States of the Single Resolution Mechanism by the end of 2023. During the transitional period, the contributions will be allocated to different compartments corresponding to each participating Member State (national compartments). The use of the compartments is subject to a progressive mutualisation in such a manner that the compartments will cease to exist at the end of the transitional period. Banks have to make annual ex-ante contributions to the SRF. These contributions are generally calculated on the basis of the institutions’ liabilities, excluding own funds and covered deposits, and adjusted for risk. In calculating the ex-ante contributions, the SRB applies the methodology as set out in the Commission Delegated Regulation (EU) 2015/63 and Council Implementing Regulation (EU) 2015/81.

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Background presentation on Contributions to the Single Resolution Fund