Single Resolution Board publishes first Multi-Annual Programming document, including its Work Programme 2018

Single Resolution Board publishes first Multi-Annual Programming document, including its Work Programme 2018 

Brussels – 4 December 2017

Today, the Single Resolution Board (SRB) publishes its first multi-annual programming document, including its Work Programme 2018. The SRB sets out an ambitious roadmap for improving the resolvability of the banks under its remit over the next three years. Key objectives include completion and refinements  of resolution plans and definition of  Minimum Requirement for own funds and Eligible Liabilities (MREL)  for all major banking groups in our remit, reinforced crisis preparedness, as well as further operationalisation of the Single Resolution Fund (SRF).

"We are clearly committed to the SRB’s mission: ensuring an orderly resolution of failing banks with minimum impact on the real economy, the financial system, and the public finances of the participating member states and beyond." Elke König, Chair of the Single Resolution Board.

 

 

More information:

  • BANK RECOVERY AND RESOLUTION DIRECTIVE (BRRD) 2014/59/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms
  • SINGLE RESOLUTION MECHANISM REGULATION (SRMR) (EU) No 806/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund

 

About the Single Resolution Board

The Single Resolution Board (SRB) is the resolution authority within the Banking Union (BU) and, as part of the Single Resolution Mechanism (SRM), is at its centre. It works closely with, in particular, the national resolution authorities (NRAs) of participating Member States, the European Commission (EC), the European Central Bank (ECB) and national competent authorities (NCAs). Its mission is to ensure an orderly resolution of failing banks with minimum impact on the real economy and public finances of the participating Member States and beyond.

 

Media Contact details:

Camille De Rede – Communication Officer

E-mail: Camille.De-Rede@srb.europa.eu

Phone number: +32 2 490 3530

Switchboard: +32 2 490 3000

Mobile phone: +32 460 766 704

 

Maria Hormaeche Lazcano - Seconded National Expert

Maria.HORMAECHE-LAZCANO@srb.europa.eu

Phone number: +32 2 490 3702

Switchboard: +32 2 490 3000

Mobile phone: +32 477 028 702

 Website: http://srb.europa.eu/

Twitter: @EU_SRB