December 04, 2017

SRB published its first multi-annual programming document, including its Work Program for 2018. SRB sets out an ambitious roadmap for improving the resolvability of the banks under its remit over the next three years.

Key objectives include completion and refinements of resolution plans and definition of Minimum Requirement for own funds and Eligible Liabilities (MREL) for all major banking groups in the SRB remit, reinforced crisis preparedness, and further operationalization of the Single Resolution Fund (SRF). To achieve its objectives, SRB has defined the following five strategic areas of operation in which progress is to be accomplished:

  • Strengthening resolvability for SRB entities and less significant institutions
  • Fostering a robust resolution framework
  • Preparing and carrying out effective crisis management
  • Operationalizing the SRF
  • Establishing a lean and efficient organization

With respect to the resolution plans, the objective is to complete resolution plans for all major banking groups by 2020, including binding minimum requirements for own funds and eligible liabilities (MREL) targets on all levels of a group. In 2017, SRB has started to develop binding targets for major banking groups. SRB intends to define MREL requirements for these groups in 2018, with an increased focus on the quality and the internal location of MREL, in particular ensuring that there are sufficient subordinated instruments to implement banks’ preferred resolution strategies. Beyond MREL, resolution plans will benefit from the growing experience and ongoing policy work in many domains, for example, on impediments to resolution. SRB will also reinforce the crisis preparedness, aiming to implement efficient workflows under multiple crisis scenarios. The SRB Chair Elke König said, "We are clearly committed to the SRB’s mission: ensuring an orderly resolution of failing banks with minimum impact on the real economy, the financial system, and the public finances of the participating member states and beyond."

 

Related Links

Keywords: Europe, EU, Banking, Resolution Framework, MREL, LSI, Resolution Planning, Work Program, SRB

Related Articles
News

APRA Releases Minor Changes to Reporting Standards on SA-CCR for Banks

APRA released minor changes to the three reporting standards for the standardized approach for measuring counterparty credit risk exposures (SA-CCR).

May 22, 2019 WebPage Regulatory News
News

APRA Proposes to Amend Guidance on Residential Mortgage Lending

APRA is consulting on revisions to the prudential practice guide APG 223 on residential mortgage lending in Australia.

May 21, 2019 WebPage Regulatory News
News

ESAs Amend Technical Standards on Mapping of ECAIs Under CRR

ESAs published a second amendment to the implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk under the Capital Requirements Regulation (CRR).

May 20, 2019 WebPage Regulatory News
News

OCC Consults on Information Collection for Home Mortgage Disclosures

OCC is soliciting comment on the revision of the information collection titled “Regulation C—Home Mortgage Disclosure.” OCC also notes that it has sent the collection to OMB for review.

May 20, 2019 WebPage Regulatory News
News

EIOPA Updates Q&A on Regulations in May 2019

EIOPA published additional questions and answers (Q&A) on guidelines, directives, and regulations applicable to insurers in Europe.

May 17, 2019 WebPage Regulatory News
News

FSB Publishes Update on Meeting of RCG for Americas

FSB published a summary of the meeting of its Regional Consultative Group (RCG) in Americas.

May 17, 2019 WebPage Regulatory News
News

ESRB Paper on Impact of Business Model Similarities on Risk Capture

ESRB published a working paper on whether information contagion and business model similarities explain bank credit risk commonalities.

May 17, 2019 WebPage Regulatory News
News

IASB Issues Work Plan and Meeting Updates for May 2019

IASB published an updated work plan, along with the update of its meeting in May 2019.

May 17, 2019 WebPage Regulatory News
News

FCA Publishes Its Business Plan for the Coming Year

FCA published its Business Plan, which sets out the main areas of focus and priorities for 2019/20.

May 17, 2019 WebPage Regulatory News
News

CBM Notifies ESRB and ECB on Imposing Borrower-Based Measures in Malta

CBM notified ESRB and ECB regarding its decision to impose borrower-based measures on lenders in Malta.

May 17, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3103