Featured Product

    SRB Publishes Resolution Planning Cycle Booklet for 2021

    April 21, 2021

    SRB published the resolution planning cycle booklet for 2021. The booklet informs stakeholders about the resolution planning activities of SRB and describes the main processes and phases of the current cycle that was launched on April 01, 2021. The resolution planning cycle starts in the beginning of the second quarter of each calendar year and aligns the resolution planning of the banks under the SRB remit on the same twelve-month cycle running from April to March.

    In the 2021 cycle, SRB will continue concentrating efforts on achieving resolvability of SRB banks and operationalizing all resolution plans prepared by SRB, with focus on liquidity and funding in resolution, Management Information Systems (MIS) capabilities for valuation data (including self-assessment report), and bail-in operationalization (with full bail-in playbooks by the end of 2021 and MIS capabilities for bail-in data by the end of 2022). During this cycle, the Internal Resolution Teams will:

    • Update and further enhance 105 resolution plans, covering all banking groups under the SRB remit
    • Propose binding external and internal MREL decisions for banks in its remit as well as their subsidiaries
    • Prepare the resolvability assessment for each SRB bank.

    SRB will contribute to the drafting of four resolution plans for which it is not the Group Level Resolution Authority. For 17 banking groups with subsidiaries in non-Banking Union EU jurisdictions, SRB cooperates closely with the relevant national resolution authorities in Resolution Colleges in the drafting of a group resolution plan and the adoption of MREL decisions.  SRB also sets up Crisis Management Groups for eight global systemically important banks, or G-SIBs, in its remit for conducting an annual Resolvability Assessment Process (RAP) and preparing the Resolvability Assessment Process letters for FSB. With banks being responsible for becoming resolvable, the resolution planning cycle allows for a yearly progress and “stock-taking” and enables internal resolution teams to annually update the resolution plan, take stock of continuous resolution planning activities based on year-end figures, take legal decisions (for example, MREL), and reach formal agreements with external stakeholders. Where progress on resolvability is considered insufficient, SRB will open procedures for the removal of impediments to resolvability.

     

    Related Links

    Keywords: Europe, EU, Banking, Resolution Planning, Basel, Resolution Framework, MREL, Bail-In, Regulatory Capital, SRB

    Featured Experts
    Related Articles
    News

    EBA Guide to Monitor Threshold for Intermediate Parent Undertakings

    The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).

    July 28, 2021 WebPage Regulatory News
    News

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    ESMA Group Issues Recommendations on RFR Switch in Interdealer Market

    The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.

    July 26, 2021 WebPage Regulatory News
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    EIOPA Consults on Reporting and Disclosures Under Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7295