The Single Resolution Board's (SRB) Mission
The SRB is the central resolution authority of the European Banking Union. Our role is to protect the public interest and act as a safety net to ensure that the price to pay when a bank fails does not fall first on the taxpayer.
The SRB, together with the National Resolution Authorities (NRAs) of the 21 Banking Union countries, forms the Single Resolution Mechanism (SRM). We work closely with the NRAs, the European Commission (EC), the European Central Bank (ECB), the European Banking Authority (EBA) and national competent authorities (NCAs).
Our key tasks:
- Ensuring minimum impact of failing banks on the real economy
- Planning resolution strategies and enhancing banks’ resolvability
- Managing the Single Resolution Fund, which provides financial support as a last resort, after private solutions have been ruled out;
- Assessing banks’ resolvability and triggering resolutions along with the European Central Bank
- Setting minimum own funds requirements for banks
The SRB's Values
The SRB strives to be a trusted and respected resolution authority with a strong resolution capacity in the SRM, thus avoiding future bail-outs with taxpayer money. The SRB aims to be a centre of expertise in bank resolution. Its three values are (i) Excellence in Resolution, (ii) Integrity and (iii) EU Spirit.
The SRB’s Operating Structure
The Chair is responsible for, inter alia, the management of the SRB, its budget, preparing the work of the SRB in its Executive and Plenary Sessions, all staff matters, and matters of day-to-day administration. The Vice-Chair and the four full-time Board Members are responsible for individual directorates:
- Directorate A Resolution Strategy and Cooperation provides resolution expertise, including expertise related to financial stability analysis, and aims to ensure a common understanding within the SRM of horizontal and policy topics; in general, this Directorate also manages the SRB’s cooperation with its stakeholders, like the EC and the ECB;
- Three directorates (Resolution Planning and Decisions B, C and D) are directly responsible for preparing resolution plans and, if necessary, resolution schemes for the banks within the SRB’s remit, in cooperation with NRAs within the forum of Internal Resolution Teams (IRTs). As a general rule, each directorate covers specific countries;
- The Vice-Chair is responsible for Directorate E Corporate Services, the Legal team and the Single Resolution Fund. This directorate manages functions such as Human Resources, Information Technology, Finance and Procurement and Facilities, and is responsible for raising contributions to, as well as managing and investing the resources of, the SRF to ensure, if need be, the effective application of the resolution tools;
- Additionally, in the performance of her tasks, the Chair is assisted by a dedicated staff. In this regard, the General Counsel and Corporate Secretariat, the Policy Coordination and International Relations unit, the Communications team, Internal Audit and Accountant all form independent units within the SRB, reporting directly to the Chair.
- SRB Organisation Chart (May 2021)
- Rules of Procedure of the Executive Session
- Rules of Procedure of the Plenary Session
- Revised rules on the Code of Conduct