When applying resolution tools and exercising resolution powers, the SRB and, where relevant, NRAs, take into account the resolution objectives, and choose those resolution tools and resolution powers which best achieve the pertinent resolution objectives.
The BRRD and the SRMR set the following resolution objectives:
- to ensure the continuity of critical functions;
- to avoid significant adverse effects on financial stability, in particular by preventing contagion, including to market infrastructures, and by maintaining market discipline;
- to protect public funds by minimising reliance on extraordinary public financial support;
- to protect depositors covered by the Deposit Guarantee Scheme Directive (DGSD) and investors covered by the Investor Compensation Scheme Directive (ICSD);
- to protect client funds and client assets.When pursuing the resolution objectives, the SRB and, where relevant, NRAs will seek to minimise the cost of resolution and avoid destruction of value unless necessary to achieve the resolution objectives.