Cooperation with National Resolution Authorities (NRAs)

The NRAs are the resolution authorities of the participating Member States of the Banking Union, which are empowered to exercise resolution powers over banks within their own remit and, in compliance with a resolution scheme adopted by the SRB, the banks within the SRB’s remit. The SRB and the NRAs closely cooperate with the SSM, the European Commission, the Council of the European Union, the European Parliament, as well as other European and international authorities.


Cooperation with other EU Bodies

The SRB works closely with other EU bodies. Key stakeholders in this respect are:

  • The ECB, as the supervisory authority of the significant banks within the SRB’s remit.
  • The EC, given its role in the decision-making process regarding resolution schemes;
  • The EBA, given its role in the regulatory process and in the convergence of resolution practices, including mediation and the efficient functioning of Resolution Colleges.



Cooperation with the Authorities of Non-Banking Union EU Countries


Cooperation with Third Countries

The SRB has signed a number of cooperation agreements with third countries in order to facilitate resolution planning, the implementation of resolution decisions for cross-border entities and the exchange of information.


Resolution Colleges

For banks headquartered in the Banking Union and with one or more subsidiaries or significant branches in one or more non-participating Member States, or vice-versa, Resolution Colleges bring the SRB and the relevant resolution authorities together to discuss and agree on resolution planning and other resolution matters. Depending on where the bank is headquartered, the SRB or the resolution authority of a non-participating Member State is the so-called Group-Level Resolution Authority (GLRA). The way in which Resolution Colleges are expected to work and the interaction among the members of the Resolution Colleges is defined in the Commission Delegated Regulation 2016/1075.

Resolution Colleges are composed of the following members:

  • the GLRA, which is the SRB for banks under its direct responsibility;
  • the relevant NRAs for the entities under the NRA’s direct responsibility (the relevant NRAs are only observers for the banks within the SRB’s direct remit);
  • the resolution authorities of non-participating Member States in which a parent company, subsidiary, or significant branch is located;
  • the consolidating supervisor (for banks under the SRB’s direct responsibility, the consolidating supervisor can be either the ECB or, for the other cross-border groups, the relevant NCA) and the supervisory authorities of the Member States where the resolution authority is a member of the Resolution College;
  • the competent ministries, where the resolution authorities which are members of the Resolution Colleges are not the competent ministries;
  • the authorities responsible for the Deposit Guarantee Schemes (DGSs) of relevant Member States; and
  • the EBA, as non-voting member.

The resolution authorities of third countries (i.e. countries outside of the EU) where a parent undertaking, a credit institution or an investment firm established in the EU has a significant subsidiary or branch, may at their request be invited to participate in the Resolution College as observers, provided that they are subject to equivalent confidentiality requirements.

Furthermore, European Resolution Colleges (ERCs) must be set up where two or more subsidiaries or significant branches are located in the EU of a parent undertaking, credit institution or investment firm that is headquartered in a third country.


Crisis Management Groups (CMGs)

CMGs have been set up for G-SIBs, as recommended by the FSB in its Key Attributes for Effective Resolution Regimes. CMGs are composed of the resolution authorities, supervisory authorities, central banks, finance ministries and public authorities responsible for DGSs of the countries where entities of the G-SIBs are located that are considered material to potential resolution of the G-SIBs. The authorities involved in CMGs sign institution specific Cooperation Agreements in which they specify the information exchange between them and the processes for information sharing with non-CMG authorities.

A Resolvability Assessment Process (RAP) is conducted annually in respect of all G-SIBs to promote adequate and consistent reporting on resolvability at a global level and to determine what should be done to address material recurring issues with respect to resolvability. The RAP conducted in each CMG is summarised in a so-called ‘RAP letter’ addressed to the Chair of the FSB. The SRB is in charge of preparing such letters for all G-SIBs within its remit.


2018-12-17 Decision of the Single Resolution Board 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/2018/15513.41 KB
2019-08-01 Memorandum of Understanding between the Commission and the Single Resolution Board in respect of certain elements of cooperation and information exchange pursuant to the Single Resolution Mechanism Regulation623.38 KB
2016-12-06 Memorandum of Understanding between the Single Resolution Board and Riksgäldskontoret concerning the cooperation and information exchange in resolution185.11 KB
2017-12-22 Cooperation arrangement concerning the resolution of financial institutions with cross-border operations in Canada and the European Banking Union177.92 KB
2017-09-20 Cooperation arrangement concerning the resolution of Insured Depository Institutions and certain other financial companies with cross-border operations in the United States and the European Banking Union62.45 KB
2018-07-09 Cooperation arrangement between the Banco Central Do Brasil and the Single Resolution Board188.94 KB
2018-09-27 Cooperation arrangement between the Institute for the Protection of Bank Savings and the Single Resolution Board194.86 KB
2018-07-09 Cooperation arrangement between the National Bank of Serbia and the Single Resolution Board273.65 KB
2018-09-27 Cooperation arrangement between the Bank of Albania and the Single Resolution Board192.8 KB
2019-10-02 Cooperation in the area of banking resolution between the Single Resolution Board and the Financial Services Agency434.18 KB
2021-01-06 Cooperation arrangement between the SRB and the Bank of England final180.22 KB

Contact the Single Resolution Board

Treurenberg 22, 1049 Brussels

+32 (0) 2 490 30 00