The Single Resolution Board's vision
Established by Regulation (EU) No 806/2014 on the Single Resolution Mechanism (SRM Regulation), the Single Resolution Board (SRB) has been operational as an independent European Union (EU) Agency since January 2015. The SRB strives to become a trusted and respected resolution authority with a strong resolution capacity and the ability to act swiftly and in an appropriate, consistent and proportionate manner in establishing and enforcing an effective resolution regime for banks in the Single Resolution Mechanism (SRM) jurisdictions, thus avoiding future bail-outs.
The role of the SRB is proactive: rather than waiting for resolution cases to handle, the SRB focuses on resolution planning and preparation with a forward-looking mindset to avoid the potential negative impact of a bank failure on the economy and on financial stability. The SRB aims to become a centre of expertise in bank resolution.
The Single Resolution Board's mission
The SRB is the resolution authority within the Banking Union. Together with the National Resolution Authorities (NRAs) it forms the SRM. The SRB works closely with, in particular, the NRAs of participating Member States, the European Commission (EC), the European Parliament (EP), the European Central Bank (ECB) and National Competent Authorities (NCAs). The NRAs play a key role within the Banking Union.
The mission of the SRB is to ensure an orderly resolution of failing banks with minimum impact on the real economy and the public finances of the participating Member States of the Banking Union.
- SRB Budget 2017
- Decision of the Plenary Session of the Board of 28 June 2016 establishing the framework for the practical arrangements for the cooperation within the Single Resolution Mechanism between the Single Resolution Board and national resolution authorities (SRB/PS/2016/07)
- SRB Code of Ethics
- SRB Final Annual Accounts of 2015
- SRB 2017 Work Programme