Featured Product

    SRB Publishes Annual Report for 2018

    July 01, 2019

    SRB published its annual report for 2018. The annual report offers an overview of the SRB work and highlights its achievements and progress during the year. SRB made significant progress in strengthening the resolution framework, further operationalizing resolution tools and the corresponding resolution planning policies, refining the minimum requirements for own funds and eligible liabilities (MREL) policy, enhancing crisis readiness, further operationalizing the Single Resolution Fund (SRF), strengthening and contributing to international and regulatory cooperation, and further developing internal processes. SRB Chair Elke König is expected to present the report to ECON Committee of European Parliament at a public hearing on July 23, 2019.

    Work on more than 100 resolution plans for banks under the SRB remit progressed in close collaboration with national resolution authorities during the past year. In 2018, SRB differentiated between banks active entirely in the Banking Union (that is, banks without a resolution college) and the most complex, internationally active banks that is, banks with resolution colleges). The resolution planning cycle for 2018/2019 marks a type of transition phase to get to accelerate work and get to the steady state for resolution planning. SRB intends to use the transition phase to implement the new provisions of the risk-reduction package, which the EU lawmakers agreed on in 2018.

    Political agreement on the Common Backstop marked another important milestone for the work of SRB. As part of its commitment to be ever more transparent, SRB published its detailed MREL policy and communicated extensively with the banks under its remit to reach its goal to have full fledged resolution plans for all banking groups under its remit by 2020. As outlined in the Work Program for 2018, SRB focused its work on the following main operational areas:

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

     

    Related Links

    Keywords: Europe, EU, Banking, Annual Report, MREL, Resolution Framework, Resolution Planning, Single Resolution Fund, SRB

    Featured Experts
    Related Articles
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies

    The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)

    September 13, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514