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The Delegation of the European Union to the United States spoke with Elke König, Chair of the Single Resolution Board, on the EU's Single Resolution Mechanism that prevents bank failures from affecting the entire EU economy and...
As of 30 June 2018, the Single Resolution Board (SRB) had collected €7.5 billion from 3,315 institutions in annual ex-ante contributions to the Single Resolution Fund (SRF). In total, the SRF now holds an amount of €24.9 billion.
The target size of...
The Single Resolution Board (SRB) announces the decision of Mr Mauro Grande, Board Member and Director of Resolution Strategy and Cooperation to leave the SRB.
Mr Mauro Grande, Board Member and Director of Resolution Strategy and Cooperation, who has...
The SRB welcomes clarifications and guidance provided by the SRB Appeal Panel in its new decisions. The SRB is currently analysing these decisions and assessing the steps that need to be taken to implement them.
On 19 June 2018, the SRB Appeal Panel...
On 19 June 2019, the SRB’s Appeal Panel rendered decisions in cases 44 to 54/17, 56/17 and 1 and 7/18. The cases relate to requests for access to documents in the aftermath of the resolution of Banco Popular Español, pursuant to Article 90(1) SRMR and...
Following any resolution action, the Single Resolution Board (SRB) needs to ensure compliance with the ‘no creditor worse off principle’. In this regard, a so-called ‘Valuation 3’ needs to be performed by an independent person as soon as possible after...
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On 26 March 2018, Mr Yves Herinckx resigned as Vice-Chair and Member of the Appeal Panel.
The Chair of the SRB and the Chair of the Appeal Panel thank Mr Herinckx for his valuable contributions and notably his support in the building up phase of the SRB...
The SRB has cooperated closely with the EBA with regard to the reporting on resolution as of 2019, in particular for the Liability Data Report (LDR). Version 2.8 of the reporting framework as published by EBA also contains the minimum framework...
“Implementing EDIS would centralise deposit guarantee funds and align the EU and US more closely."
Given the importance of coordination for managing the failure of international banks, the SRB will strive to work with international authorities to make...
Once the Banking Union is completed there is little reason for ring-fencing writes Elke König
The European Commission’s risk reduction package proposes to implement important international provisions in order to reduce risks and achieve further progress...
MREL is a key tool to improve banks’ resolvability and safeguard taxpayers’ money, writes Elke König
As the SRB keeps saying, MREL is a journey. It is a journey with a clear destination – to ensure banks’ resolvability, thereby strengthening financial...
Brussels – 19 March 2018
The Single Resolution Board (SRB) announces the appointment of Mr Boštjan Jazbec as Member of the Board and Director of Resolution Planning and Decisions.
Mr Boštjan Jazbec, a Slovenian national, has been serving as...
The SRB Appeal Panel confirms that full disclosure of the Provisional Valuation Report would raise financial stability concerns. At the same time, it decided that the SRB should make public elements of the Valuation Report it considers to be of a non...
On 8 January 2018, Commission Delegated Regulation (EU) No 2361/2017 of 14 September 2017 on the final system of contributions to the administrative expenditures of the SRB came into force. This Delegated Regulation replaces the transitional system that...
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...
Brussels, 2 February 2018
The Single Resolution Board (‘SRB’) published today an ‘extensive’ non-confidential version of the Resolution Decision, the Valuation Reports and the 2016 Resolution Plan. To make as much information publicly available as...
For the 2018 Liability Data Reporting process, the SRB has finalised the following documents which were published in their draft version on October 31st 2017 on the LDR section of the SRB website:
- Liability Data report Q&A – this document reflects both...
22 December 2017
The Cooperation Arrangement (CA) between the Single Resolution Board (SRB) and the Canada Deposit Insurance Corporation (CDIC) further strengthens the close cooperation between the two organizations in compliance with the legal...
The SRB is currently preparing a non-confidential version of the Valuation Report made by an independent expert and of certain other documents related to the resolution of Banco Popular.
In its recent decisions on cases 38/17 to 43/17, the SRB Appeal...