Following the European Central Bank’s assessment of AS PNB Banka as failing or likely to fail, the Single Resolution Board has today decided that resolution action is not necessary. The Latvian bank will be wound up under national law. The SRB assessed the situation and concurred with the ECB’s...
The Single Resolution Board and the European Commission have signed a Memorandum of Understanding in order to further strengthen their cooperation. The two authorities share the objectives of ensuring the orderly resolution of failing banks while protecting financial stability and ensuring that...
[CHECK AGAINST DELIVERY] [Introduction] Dear Chair, Honourable Members, Ladies and Gentlemen, Thank you for the invitation to be here before your committee. First and foremost I want to say congratulations to each and every one of you. Not only have the peoples of Europe put their trust in you to...
The Single Resolution Board (SRB) today announced that the Single Resolution Fund (SRF) received a cash injection of €7.8 billion from 3,186 institutions for the year 2019. This brings the total amount in the SRF to just under €33 billion. The target size of the SRF is intended to be at least 1% of...
Brussels – 03 07 2019 The Single Resolution Board (SRB) has today published a paper outlining its approach to an important element of the resolution framework, the Public Interest Assessment (PIA). The PIA examines whether the resolution of a particular bank that is failing or likely to fail would...
