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

    UK Authorities Consult on Implementation of Basel 3.1 Standards

    The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.

    November 30, 2022 WebPage Regulatory News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8597