The Board
Chair
Dr Elke König is Chair of the SRB, responsible for the management of the organisation, the work of the Board, the budget, all staff and the Executive and Plenary sessions of the Board. The General Counsel, the Strategy, International Relations and Communications Unit and the Internal Audit function report directly to her.
She was President of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) from 2012 until 2015. After qualifying in business administration and obtaining a doctorate, Dr König spent many years working for companies in the financial and insurance sector. From 1980 to 1990, she worked for KPMG Deutsche Treuhandgesellschaft in Cologne, auditing and advising insurance undertakings, from 1986 as a holder of a special statutory authority (Prokuristin) and from 1988 as a director and partner. From 1990 to 2002, Dr König was a member of the senior management of the Munich Re Group (Head of Accounting); she then moved to Hannover Rückversicherung AG as Chief Financial Officer. From 2010 to the end of 2011, Dr König was a member of the International Accounting Standards Board (IASB) in London. Dr König was also a representative of the Supervisory Board of the Single Supervisory Mechanism. **
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13/09/2020
Colloquium on Resolution of Financially Distress Financial Institutions
SRB Chair Elke König to give closing keynote remarks at the CDIC Colloquium on Resolution of Financially Distress Financial Institutions on 13 September.
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22/09/2020
10th Annual International Financial Services Forum (City Week 2020)
SRB Chair Elke König to participate into the panel called “Can Regulatory Convergence be achieved in an increasingly fragmented system?”.
- More information on the organisers' website.
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27/11/2020
SRB-FBF academic event: Bank resolution in times of COVID-19
The COVID-19 pandemic is challenging the European Union and the principles and instruments of its recently established Banking Union. Fortunately, great strides have been made towards financial stability in the last 12 years. European policymakers have created and shaped a de facto macroeconomic financial stability objective, in which the resolution pillar plays an important role. Financial stability and bank resolution are currently striding along the road, and their relationship remains debated. Some have argued that bank resolution fosters financial stability, by preventing unexpected and disorderly bank exits from the sector. Others have contended that the potential enforcement of some resolution tools, such as bail-in, may represent a risk for the stability of the system.
During its four years of existence and well before the COVID-19 emergency, some building blocks of the crisis management framework have been challenged. It has been argued that the consistency of the resolution regime with other instruments, such as the European Stability Mechanism facilities, and with national legal orders (e.g. domestic insolvency regimes, safeguard of creditor’s property rights, national central bank resources) could be further improved, also to ensure more legal certainty. The firepower of the Single Resolution Fund depends also on the introduction of the Common Backstop, potentially provided by the European Stability Mechanism.
- Will this step contribute to the prevention of financial instability?
- Will the design of the resolution framework prevent a second wave of bank bail-out in the European Union in the COVID-19 context?
- To what extent can the stability of the European banking sector be maintained while minimising the use of public funds in the banking sector?
Against this background, the aim of the event is to bring together leading scholars and policy-makers in order to discuss economic, financial, legal, political and public policy topics located at the intersection between financial stability and bank resolution and in...