November 22, 2017

SRB organized the sixth Industry Dialog in Brussels on November 21, 2017. It brought together representatives from EU-level and national banking federations from Banking Union countries, representatives from national resolution authorities, the EC, European Parliament, and ECB. The meeting involved presentations related to the 2018 SRB resolution planning work cycle; 2017 MREL policy; critical functions and bank reporting; and an update on the Delegated Regulation on administrative contributions.

  • Resolution planning Lessons learnt and way forward by Dr Elke König, the SRB Chair: The presentation noted that the experience gained in resolution planning and crisis management is instrumental for the removal of barriers to resolution. Key areas, such as availability of data and adequate management information systems (MIS) and funding in resolution, have been identified in light of the determination of impediments to resolvability. SRB will soon launch the 2018 resolution planning cycle—building on the previous exercises—to bring predictability for all stakeholders involved and to ensure that the ambitious objectives for the Banking Union are achieved.
  • 2017 minimum requirement for own funds and eligible liabilities (MREL) Policy by Dominique Laboureix, an SRB Board Member: The presentation highlighted the process and the overview of the SRB MREL Policy for 2017. It also noted the policy outcomes, stating the application of the policy, estimated MREL targets, and the estimated MREL shortfalls. Finally, the SRB MREL roadmap with a multi-year approach was discussed. The 2017 MREL Policy represents a step forward compared to 2016, with a focus on bank-specific features, quality of MREL, and the setting of binding requirements with appropriate transition periods.
  • Critical functions and bank reportings, Mauro Grande, an SRB Board Member: Critical functions is a key element in resolution plans. The SRB and ECB are working together to align critical functions in recovery and resolution plans. Topics such as improved quality of assessments by banks and Internal Resolution Teams (IRTs), SRB benchmarking, and the next steps toward further improvement of critical functions were also discussed.
  • Update on the Delegated Regulation on administrative contributions by Timo Löyttyniemi, the SRB Vice-Chair: On September 14, 2017, EC adopted a Delegated Regulation on the final system of contributions. Once in force, this Delegated Regulation will establish the manner in which the amounts of the contributions are calculated as well as how they are collected. The presentation further explained the calculation methodology of the final system, along with the transitional period in 2018.

 

Related Link: Press Release

Keywords: Europe, Banking, Resolution Planning, MREL, Bank Reporting, Administrative Contributions, Presentation, SRB

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