SRF grows to €42 billion after latest round of transfers

The Single Resolution Board today announced that the Single Resolution Fund received an increase of €9 billion from 3,066 institutions for the year 2020. This brings the total amount in the SRF to approximately €42 billion.

“The Fund is being steadily built up and we are well on our way to reaching our target. The SRF is a significant part of our toolbox as a safeguard for financial stability,” said SRB Chair Elke König.  

The target size of the Single Resolution Fund (SRF) is set at 1% of covered deposits by end 2023. The Fund will end up at close to €70 billion, taking into account the current annual growth in covered deposits. The SRF can be used to support the effective resolution of a failing bank, if needed.

The SRF is made up of contributions from credit institutions and certain investment firms in the 19 Banking Union countries. These contributions are calculated according to EU law and collected via the national resolution authorities.

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 is promoting financial stability.

Media Contact details

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