Blog post

Blog post | 21 January 2021

Banking Union – New Year, new momentum

We ended 2020 with agreement on another important step on the road to the Banking Union. The Eurogroup (in inclusive format) agreed to move forward with the reform of the European Stability Mechanism and to establish the common backstop to the Single Resolution Fund – which will enter into force at...
Blog post | 11 January 2021

A new year, a new impetus for the goal of financial stability

New Year isn’t the only time that we, at the SRB, think about resolutions. Our focus is always on making banks resolvable so that we can promote financial stability and protect the taxpayer. However, as we head into a new year that I hope will be brighter than the last, it is a good time to take a...
Blog post | 28 December 2020

A European Bad Bank – a necessary tool for financial stability?

Andrea Enria’s recent comments in the Financial Times fanned the embers of the idea of a pan-European Asset Management Company, more commonly referred to as a European bad bank. Mr Enria promoted the idea as a possible tool for strengthening financial stability across the Banking Union’s banking...
Blog post | 10 December 2020

The common backstop – a welcome step forward

The Eurogroup’s agreement to introduce the common backstop to the Single Resolution Fund (SRF) early is something we very much welcome at the SRB. This is an important step towards completing the Banking Union, and will enhance confidence in the bank resolution framework. In the context of the...
Blog post | 24 July 2020

To resolve or not to resolve: a public interest assessment fit for purpose

The Single Resolution Board (SRB) plans for and manages bank failures in such a way that the public interest is safeguarded. The bank resolution framework was put in place for banks whose collapse might shake other parts of the economy. In these cases, the SRB can use its resolution tools to manage...
Blog post | 10 July 2020

Brexit: get ready for changes

Over the past few months, there has been an understandable focus on dealing with the effects of the Covid-19 outbreak on our economies. However, we should not forget some of the other challenges facing the European financial sector, among them the fact that the United Kingdom will leave the...
Blog post | 3 July 2020

The SRB's fifth anniversary in times of an unprecedented pandemia

Both because of its global scale and dramatic social and economic impact and because continued uncertainty regarding its ultimate scope and consequences, the crisis resulting from the Covid-19 pandemic is an unprecedented challenge being faced by global society. At an institutional level, this...
Blog post | 17 June 2020

MREL: the next steps

The economic shock of the Covid-19 outbreak has put the financial industry again in the spotlight – this time as vital players in mitigating the effects of the crisis, supported by national and European authorities. While the European banking sector entered this crisis in much better shape than it...
Blog post | 7 May 2020

Resolution planning cycle 2020: setting a course for financial stability

The COVID-19 outbreak has left us in uncharted waters, with the ultimate effects on the global economy and the banking industry still unknown. However, the resolution framework put in place after the financial crisis means we have a steadier hand on the tiller. Good planning, the basis of all...
Blog post | 8 April 2020

COVID-19 crisis: the SRB's approach to MREL targets

In this blog, I would like to provide additional clarity on the SRB’s approach to minimum requirements for own funds and eligible liabilities (MREL), taking the impact of the COVID-19 crisis into account. First of all, the banking industry has made substantial progress in building up MREL to date...

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