SRB launches 2019 Annual Report

The SRB today published its 2019 Annual Report detailing the progress made in promoting financial stability while protecting the taxpayer through Europe's banking resolution framework.

In 2019, the SRB further strengthened and updated the resolution plans for the banks under its remit based on the most recent MREL policy and other resolution policies, while at the same time incorporating the first provisions of the Banking Package.

In addition, throughout 2019, preparations took place to ensure the resolution planning cycle would align to the calendar year as of 2020. The cycle will also see an improvement in the quality for the resolution plans with all plans based on the most recent data.

The Expectations for Banks document was another key deliverable in 2019. The document builds on the Resolution Planning Manual and is useful guide for financial institutions. The Expectations document expresses clear and concrete expectations towards banks on how they should make themselves resolvable in various domains. The SRB's priority letters, which are an annual tailor-made letter for each bank and which emphasise the priorities each bank is obliged to focus on individually in order to make itself resolvable, use Expectations for Banks as a reference point.

 

Read the SRB 2019 Annual Report here.

About the Single Resolution Board

The Single Resolution Board (SRB) is the central resolution authority within the Banking Union, which at present is the 19 Eurozone states. Together with the national resolution authorities it forms the Single Resolution Mechanism. The SRB works closely with the European Commission, the European Central Bank, the European Banking Authority and national authorities. Its mission is to ensure an orderly resolution of failing banks, protecting the taxpayer from state bail-outs, which promoting financial stability.

Media Contact details

Susan Carroll
Phone: 
+ 32 2 490 3439
Mobile: 
+32 470 96 48 01
Seán De Búrca
Phone: 
+32 2 490 3710
Mobile: 
+32 477 02 87 10
Camille De Rede
Phone: 
+32 2 490 3530
Mobile: 
+32 477 028 530

Contact the Single Resolution Board

Treurenberg 22, 1049 Brussels
Belgium

+32 (0) 2 490 30 00