SRB publishes key bank resolution policy: Expectations for Banks

The Single Resolution Board (SRB) today publishes its final ‘Expectations for Banks’ document, along with an overview of SRB responses to the industry consultation. The consultation took place between 23 October and 4 December 2019.

The ‘Expectations for Banks’ document, which has been updated to reflect industry feedback, sets out the capabilities the SRB expects banks to demonstrate in order to show that they are resolvable. It describes best practice and sets benchmarks for assessing resolvability. It also provides clarity to the market on the actions that the SRB expects banks to take in order to demonstrate resolvability.

The ‘Expectations for Banks’ will be subject to a gradual phase-in. Banks are expected to have built up their capabilities on all aspects by the end of 2023, except where indicated otherwise. Where needed and on a bilateral basis, the SRB and banks may agree alternative phase-in dates. The Expectations are tailored to each individual bank and its resolution strategy, allowing for flexibility and proportionality.

The SRB acknowledges the challenges that banks face in the current and unprecedented situation related to the Covid-19 pandemic, and that their focus is on business continuity and supporting the economy. The SRB, in close cooperation with other authorities and the banks under its remit, is carefully monitoring the situation. It is prepared to give banks the flexibility they may need to implement the ‘Expectations for Banks’ on an individual basis.

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
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