SRB Publishes Annual Report for 2018
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
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
European Council Publishes Final Compromise Text for NPL RegulationRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.