Single Resolution Board and Japan’s Financial Services Agency exchange letters enhancing cooperation

The Single Resolution Board (SRB) and Japan’s Financial Services Agency (FSA) have agreed to cooperate on resolution planning for banks, through an exchange of letters. The letters were signed on 11 October 2019 in Tokyo at the EU-Japan Joint Financial Regulatory Forum, hosted by the FSA and co-organised with the European Commission.

Bilateral cooperation arrangements between resolution authorities are an important ingredient for building resolvability and improving resolution planning. With this agreement, the FSA and the SRB confirm their commitment to strengthening cross-border resolvability by enhancing communication and cooperation, and to work together in planning and conducting orderly cross-border resolutions. The goal is to facilitate the resolution of banks present in the respective jurisdictions while maintaining financial stability in Japan and the European Union.

Find out more about the SRB’s international cooperation agreements here

About the Single Resolution Board

The Single Resolution Board (SRB) is the central resolution authority within the Banking Union, which at present is 19 eurozone countries, Bulgaria and Croatia. 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
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