SRB CONFERENCE - Charting the course: making bank resolution work

SRB CONFERENCE - Charting the course: making bank resolution work

On 29th April 2016, the Single Resolution Board (SRB) had its first ever conference in Brussels. Held just weeks after the SRB found its final home on Rue Treurenberg, the event marked SRB’s public debut—and affirmed its position as the authority on banking resolution in the Eurozone and other participating Member States.

“Charting the course: making bank resolution work" brought together participants from the European institutions and representatives of Euro Area resolution authorities, as well as authorities from non-participating Member States. Also participating was the chair of the U.S. Federal Deposit Insurance Corporation (FDIC) as well as numerous experts and advisors. The full programme and list of speakers can be found on the event page.

OVERWHELMING PARTICIPATION

The mandate for us at the SRB is to ensure the orderly resolution of failing banks with minimum impact on the economy and the public finances of participating Member States, as well as those outside the Banking Union. Achieving this mandate requires a collaborative effort. The overwhelming participation at last Friday’s event reflected this in the open and energetic discussions that took place throughout the day.

Some 500 persons registered to attend the event held in the Commission’s Charlemagne building, including financial experts, policymakers and members of the press. An online broadcast allowed those who were unable to attend in person to watch from home. Panel discussions were followed by lively Q&A sessions, with questions coming from those in the room as well as via the Twitter hashtag #SRB2016.

 

FORWARD-LOOKING DISCUSSION

As one of the pillars of the Banking Union, the SRB must not only be communicative and collaborative, but also progressive. The topics at hand on 29th April were in keeping with this forward-looking view. Topics of discussions ranged from the existing Bank Recovery and Resolution Directive (BRRD) to the upcoming work needed to build up the Single Resolution Fund (SRF).

Another issue discussed at length was one of the SRB’s primary tasks in the year ahead: Aligning, as best possible, the implementation of the requirements of the MREL (Minimum Requirement for own funds and Eligible Liabilities) and TLAC (Total Loss-Absorbing Capacity). The main TLAC features will feed into the definition of MREL for the G-SIBs (Global Systemically Important Banks) and beyond—but much work remains to be done.

CONFERENCE OUTPUTS TO COME

The SRB Board Members are incredibly pleased with the success of this first conference. The diversity of the participants and the debates that took place embody the collaborative nature of the SRB. We will be sharing additional details of the conference in an upcoming event report, to be published by the end of May. Video footage and photos will also be available.

Moving ahead, we will continue to work with countries in the European Union as well as international stakeholders in our efforts to enhance financial stability. We look forward to sharing the upcoming conference outputs with you, and to continuing the collaborative discussions that will advance our goal of a more secure financial future for the Eurozone and its taxpayers.

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