The Single Resolution Board (SRB) is the resolution authority for the significant and cross border banking groups established within participating Member States.
In the context of the Single Resolution Mechanism, it works in close cooperation with the national resolution authorities. In the newly created Banking Union the SRB cooperates with the European Central Bank, the European Commission, as well as other European and international institutions.
Its mission is to ensure an orderly resolution of failing banks with minimum impact on the real economy and on public finances of the participating Member States and beyond.
Established by Regulation (EU) No 806/2014 on the Single Resolution Mechanism , the Board has been operational as an independent EU Agency as of 1st January 2015. The SRB has started its work on developing resolution plans for credit institutions from January 2015 and is fully operational, with a complete set of resolution powers, since 1 January 2016.