The Single Resolution Board (SRB) has launched its first public consultation on its ‘Expectations for Banks’ document, which outlines best practice on key aspects of resolvability. The consultation is part of the SRB’s commitment to listening to the views of banks and other stakeholders and being transparent about its approaches and decisions.
The ‘Expectations for Banks’ document sets out the capabilities the SRB expects banks to demonstrate in order to show that they are resolvable. It reflects best practice in and sets benchmarks for assessing resolvability. The document will provide clarity to the market on the actions the SRB expects banks to take.
While the expectations are general, their application will be tailored to each individual bank, based on a dialogue with the SRB’s internal resolution teams. The result will feed into the SRB’s annual resolution work programmes for banks.
In line with our intention to consult the industry on key documents, the SRB invites feedback between 23 October and 4 December 2019 – 12:00 (Brussels time) through this link.
Personal data and privacy statement
The SRB is committed to user privacy. When carrying out public consultations we adhere to the policy on ‘protection of individuals with regard to the processing of personal data by the Union institutions, bodies, offices and agencies’, based on Regulation (EU) 2018/1725 on processing of personal data by the EU institutions. Full statement.
About the Single Resolution Board
The Single Resolution Board (SRB) is the central resolution authority within the Banking Union (BU). Together with the national resolution authorities of participating Member States it forms the Single Resolution Mechanism (SRM). The SRB works closely with the European Commission (EC), the European Central Bank (ECB), the European Banking Authority (EBA) 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.