Ready for the challenge – Dominique Laboureix takes up mandate as SRB Chair

Today, I take up my new role as Chair of the Single Resolution Board, the organisation charged with planning for and managing bank failure in the Banking Union.

I believe that the Banking Union, the resolution framework and our work in the SRB are key elements to build growth and prosperity for European citizens. We know that the rules put in place after the financial crisis work – and we’ve seen them in action both during my previous time at the SRB, with the Banco Popular resolution, and last spring when dealing with the Sberbank failure. In both cases, the twin goals of financial stability and protecting the taxpayer were fully achieved.

I feel honoured to be leading an organisation that has a clear and meaningful mandate, experienced and motivated staff and excellent cooperation with national resolution authorities, central banks, European institutions and international partners.

Having served as an SRB Board Member for the first five years of the organisation, and having been an active part of building up the organisation, I don’t consider myself a newcomer. From 2020, I have served as secretary-general at the French supervisory and resolution authority, the ACPR. This means I have stayed close to the work of the SRB and gained valuable insight into the needs and context of the national authorities that are an integral part of the Single Resolution Mechanism.

From my experience as a regulator, I know that it is vital that the SRB, as the central resolution authority in Europe, listens to the diverse and rich range of views when developing and implementing policy within the EU’s framework for resolution. I am looking forward to engaging, to hearing about the country-specific challenges in achieving resolvability and to working together to find solutions. I also want to ensure the views and concerns of our banking industry and of ordinary citizens whom we ultimately serve are heard too.

For me, trust is key when it comes to managing the complex ecosystem of bank resolution. We can only build this by listening, working together and finding strength in our differences. I hope to lead an organisation that becomes more transparent and more diverse so that we can move forward, confident in the knowledge that we are well prepared to meet any challenges that lie ahead.