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Fase I: Periodo de registro - 06 agosto de 2018 – 14 septiembre de 2018 (12:00 del mediodía, hora local de Bruselas)

Fase II: Presentación de comentarios por escrito - 06 noviembre 2018 – 26 noviembre 2018 (12:00 del mediodía...

Phase I: Registration period  06 August 2018 – 14 September 2018 (12:00 noon, Brussels time)

Phase II: Submission of written comments  06 November 2018 – 26 November 2018 (12:00 noon, Brussels time)

Target level and amount to be collected

• The 2018 target level was based on 1.15% of the average amount of covered deposits in 2017 (calculated quarterly) of all credit institutions authorised in the euro area;
• The total amount of 2018 ex-ante...

Critical Functions

Critical functions play an important role in the real economy and/or in the financial system. They are not only important for the institutions providing the services, but also for the broader economy of a particular region or Member...

Personal data is any information relating to an identified or identifiable individual, such as name, date of birth, ID number, email address, telephone number, profession, signature, photograph of a person’s face, medical records, bank accounts, etc.

The...

Following the decision by the European Central Bank to declare ABLV Bank, AS and its subsidiary ABLV Bank Luxembourg S.A. as ‘failing or likely to fail’, the Single Resolution Board (SRB) has decided that resolution action is not necessary as it is not in...

The entities and groups that currently fall under the direct responsibility of the SRB, subject to the provisions in Article 2 of the Single Resolution Mechanism Regulation (SRMR), are the following:

• The entities and groups directly supervised by the...

According to Article 29 of  SRB Financial Regulation 2020 (SRB/PS/2020/05):

1. The Board’s budget shall be established and implemented and the accounts  presented in accordance with the principle of transparency.

2. A summary of the budget and any...

Although the SRB is an independent EU agency, it is not publicly funded. Instead, banks operating across the Banking Union must pay an annual levy towards the running costs of the SRB.

The determination and raising of Administrative Contributions is based...

The Single Resolution Mechanism is made up of the Single Resolution Board and the National Resolution Authorities in Eurozone countries and Bulgaria. It protects financial stability and the taxpayer by planning for and managing bank failures. The SRM is...

The Minimum Requirement for Own Funds and Eligible Liabilities (MREL) is set by resolution authorities to ensure that a bank maintains at all times sufficient eligible instruments to facilitate the implementation of the preferred resolution strategy. 

Proceedings contesting SRB decisions

Decisions of the SRB may be challenged before the Appeal Panel of the SRB

Which decisions? The competence of the Appeal Panel is determined by Article 85(3) of the SRM Regulation. Only the decisions of the SRB referred...

On 23 June 2017, following the decision taken by the European Central Bank to declare Banca Popolare di Vicenza S.p.A. and Veneto Banca S.p.A. ‘failing or likely to fail’, the Single Resolution Board decided that resolution action is not warranted for...

When applying resolution tools and exercising resolution powers, the SRB and, where relevant, NRAs,  take  into  account  the  resolution  objectives,  and  choose  those  resolution  tools  and  resolution powers which best achieve the pertinent...