Featured Product

    SRB Outlines Work Priorities and Progress on Recent Resolution Cases

    April 04, 2022

    The Single Resolution Board (SRB) published a bi-annual reporting note to the Eurogroup and signed new cooperation arrangements with the authorities of Bosnia and Herzegovina.

    The bi-annual reporting note contains updates to Eurogroup on the recent resolution cases, outlines the SRB progress and priorities in 2022, and provides an update on the Single Resolution Fund (SRF), including the common backstop and the SRB consultation process on ex-ante contributions to the SRF. Below are key highlights of these developments:

    • Recent Resolution cases—SRB adopted the decisions to resolve the Slovenian and Croatian subsidiaries of Sberbank to protect financial stability and avoid disruption to the Croatian and Slovenian economies, whereas SRB didn’t take any resolution action for the Austrian parent of Sberbank, as it was not considered to provide critical functions to the economy. The SRB’s decisions achieved the resolution objectives, in particular the objective of safeguarding financial stability, to protect public funds and depositors, and ensure the continuity of critical functions.
    • SRB priorities for 2022—The priorities for 2022 include resolution planning, resolvability assessment, transfer tools, separability and adjustments of minimum requirement of own funds and eligible liabilities (MREL) for such transfer tools, operationalizing the Single Point of Entry, and further enhancing MREL policy and final MREL targets.
    • SRF and Common Backstop—SRB remains committed to the introduction of the common backstop to the SRF in early 2022 and expects all national procedures to be finalized to introduce the common backstop as soon as possible. SRB also launched a consultation on 2022 ex-ante contributions to the SRF, which gives banks and credit institutions the opportunity to view the SRB’s preliminary decision on their calculation prior to its adoption and to comment on aspects pertinent to the calculation exercise.

    In a separate development, SRB signed new cooperation arrangements with two authorities of Bosnia and Herzegovina, including both the Banking Agency of Republika Srpska (BARS) and the Banking Agency of the Federation of Bosnia and Herzegovina (FBA). The arrangement was made on the exchange of information and cooperation in connection with the resolution planning and the implementation of such planning for entities with cross-border operations.

     

    Related Links

     

    Keywords: Europe, EU, Banking, Basel, Reporting, Regulatory Capital, Single Resolution Fund, SRF, MREL, Resolvability Assessment, Cross-Border Activities, Cooperation Arrangement, BARS, FBA, Resolution Framework, Common Backstop, SRB

    Featured Experts
    Related Articles
    News

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks

    May 20, 2022 WebPage Regulatory News
    News

    NGFS Report Explores Quantification of Climate Risk Differentials

    The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations

    May 19, 2022 WebPage Regulatory News
    News

    EC Publishes Results on Review of Web Accessibility Directive

    The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.

    May 19, 2022 WebPage Regulatory News
    News

    MAS Consults on Adjustment Spreads for Conversion of SOR Contracts

    The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.

    May 18, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8206