Context
The Single Resolution Board (SRB) is the resolution authority for participating Member States within the Banking Union (BU). It began operating as an independent European Union (EU) agency on 1 January 2015. The SRB assumed its full legal powers for resolution planning and resolution decisions on 1 January 2016. Its primary scope covers significant and cross-border banking groups established in the BU.
The Bank Recovery and Resolution Directive (BRRD), which has been transposed in all participating Member States, requires banks to meet a minimum requirement for own funds and eligible liabilities (MREL) so as to be able to absorb losses and restore their capital position, allowing banks to continuously perform their critical economic functions during and after a crisis.
To achieve this outcome, the SRB, together with the BU national resolution authorities (NRAs), has started to develop its MREL approach in 2016. Its preliminary approach consisted of informative targets that sought to enable banks to prepare for their future MREL requirements.
Contact our communications team
Recent news
Guidance, published after public consultation, provides details on the multi-annual testing programme
Regular testing of banks’ ability to deal with a...
The SRB updated its operational guidance on separability to align it with the guidance on resolvability self-assessment. This in line with the SRB’s...
- The guidance is a crucial element of banks' resolvability assessments, representing a paradigm shift towards resolvability self-assessments and...