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1. Introduction
Good afternoon, Madam Chair, Honourable Members, ladies and gentlemen.
Thank you for this invitation to update you on our work, and especially as the SRB and the Single Resolution Mechanism mark our first decade of existence.
It is a pleasure to be here and an honour to speak after Commissioner Albuquerque and President Calviño.
Today, I would like briefly touch upon 1. Our work plan for 2026; 2. The Crisis Management Deposit Insurance package; 3. and the debate on simplification.
2. SRB 2026 work programme
In a few days, the SRB will publish its 2026 Work Plan. Let me give you a preview considering that it has not been published yet.
In 2026, we wil continue to focus on making sure our tools are truly ready-to-use. In fact, we will also deploy an improved version of our resolvability assessment. To recall, this assessment shows if a bank has achieved a good level of resolvability, capability by capability.
In addition, together with National Resolution Authorities, we’ll also intensify banks testing and on-site work.
Simplification – cutting unnecessary burdens without compromising on our high standards – will be an objective encompassing all our workstreams. The goal is clear: to make resolution planning simpler and more effective across the Banking Union. A few weeks ago, we published a blogpost to explain our key working priorities on simplification.
At the same time, we’ll sharpen how we work together within the SRM – streamlining decisions, driving digital transformation, and deepening our shared culture.
To conclude on this, we are also budgeting time and resources for the implementation of CMDI, but I will come back to this in a minute.
3. CMDI and the completion of the Banking Union
Let me move to legislative matters.
The agreement on the Crisis Management and Deposit Insurance framework – achieved thanks to Chair Lalucq and the Rapporteurs, together with the Commission and both the Polish and Danish Presidencies – is a pragmatic step forward for the Banking Union. It strengthens our toolkit and gives some more flexibility when it matters most.
For the first time, under strict conditions, we might be able to use the Deposit Guarantee Scheme funds – those rainy-day reserves – to support the sale of failing banks. This means protecting depositors more effectively in a transaction within resolution at no cost for the taxpayer rather than using public funds.
CMDI is more than just a new tool. It refines the creditor hierarchy, clarifies the least-cost test, and builds on lessons from our first decade under the Single Resolution Mechanism. In short, it can help to make our framework clearer, fairer, and more resilient.
This is why I hope that you will vote in favour of this text later today.
Even after CMDI, the legislative framework remains unfinished. Now that CMDI is nearing completion, the relaunch of the European Deposit Insurance Scheme (EDIS) – even in a gradual form – would significantly strengthen depositor confidence and increase the level playing field across the Banking Union. Ultimately, making the Banking Union more integrated without any immediate burden for the banking sector.
4. Simplification
It is impossible nowadays to discuss legislative files without touching upon the various simplification workstreams.
As I mentioned before, we are working on this at the SRB, within our powers, and we are very supportive of finding ways to simplify our framework without compromising our high standards.
We have a few ideas – relatively low-hanging fruits – that could help co-legislators drive real simplification directly in level 1 in our field in the context of a more global legislative agenda. Let me make a couple of examples:
Banks need to ask for prior permission before redeeming MREL instruments. The process is currently cumbersome. A targeted review of this aspect of the framework would go a long way to unburden banks and authorities without compromising anything on financial stability.
The same applies for some requirements and disclosures that apply to smaller banks – the so-called simplified obligations. These requirements could be made even more proportionate, granting immediate relief to smaller lenders.
But, much more impactful, albeit longer-term, would be [– I will repeat myself –] to move towards greater integration within the Banking Union, and that, of course, requires political will.
As for the simplification of the capital stacks, it is true that the issue is complex, but there is no shortcut
From my perspective, if a reform is to happen, it should meet two key conditions: first, it must be holistic and, second, it should be aligned with existing international standards.
And, a good place to start could be the complex and often overlapping capital buffers.
We remain available to provide our practitioner’s view on this relevant work.
5. Conclusion
Let me conclude.
I have spoken much already and I would not want to stand between you and important votes on CMDI that you have tonight.
On this, let me renew my call for a swift approval of CMDI, so that we can move quickly to implementation and you can start discussing again how to better integrate and simplify the Banking Union and the European Union at large.
Thank you.
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