Featured Product

    SRB Publishes the 2016 Annual Report

    July 11, 2017

    SRB published its annual report for 2016. The report takes stock of the progress made in developing resolution plans, establishing the Single Resolution Fund (SRF), and fostering cooperation within the Banking Union, within Europe and internationally. In 2017, SRB took its first resolution decision; however, its focus will remain on enhancing resolvability of the banks under its remit.

    2016 was the second year of the SRB’s operation and the first year in which the organization assumed full resolution powers. The SRB in close cooperation with national resolution authorities made significant progress in developing resolution plans, building up the SRF, and strengthening cooperation within the Banking Union and beyond. The SRB focused on the following main operational areas:

    Ensuring resolution readiness

    Setting up and managing the SRF

    Fostering and broadening cooperation

    Consolidating its capacity building

     

    The key objectives identified in the 2016 SRB Working Priorities have been achieved. SRB assumed its full resolution powers, covering about 140 banks. SRB, along with the national resolution authorities, drafted and adopted the first versions of resolution plans for the majority of its banking groups in 2016. The Internal Resolution Teams are up and running. Critical data for resolution planning and for SRB decisions is being collected with the assistance from the national resolution authorities. The regulatory framework is being developed and the SRB is actively contributing, with its expertise, to the regulatory discussions. Elke König, the SRB Chair presented this annual report at the ECON Public Hearing. According to the SRB Chair, “The last 18 months were characterized by a strong building-up of our [SRB] capabilities under the new EU resolution regime and the main objectives identified as working priorities have been achieved. Resolution planning is a multi-annual task and clearly 2016 was only a first, though important, step and more will have to be done in 2017 and coming years."

     

    Related Links

    SRB Annual Report, 2016 (PDF)

    Elke König at ECON Hearing

    Keywords: Europe, Banking, Resolution Framework, Single Resolution Fund, Resolution Planning, SRB

    Related Articles
    News

    HKMA Announces Liquidity Measures in Response to COVID-19 Outbreak

    HKMA issued a circular on liquidity measures that HKMA has taken or plans to take in response to COVID-19 outbreak.

    April 03, 2020 WebPage Regulatory News
    News

    BaFin Lowers Countercyclical Capital Buffer Amid COVID-19 Outbreak

    BaFin published a general order to lower the countercyclical capital buffer (CCyB) from 0.25% to 0% as of April 01, 2020.

    April 03, 2020 WebPage Regulatory News
    News

    ESMA Updates Risk Assessment in Light of COVID-19

    ESMA updated its risk assessment to account for the impact of the COVID-19 pandemic.

    April 02, 2020 WebPage Regulatory News
    News

    FSB Outlines and Reprioritizes Its Work to Address COVID-19 Risks

    FSB published a statement that outlines its work toward addressing the financial stability risks posed by COVID-19, along with the reprioritization of its work program for 2020.

    April 02, 2020 WebPage Regulatory News
    News

    EIOPA Announces Measures to Address the Impact of COVID-19

    Due to the outbreak of COVID-19, EIOPA is re-prioritizing and alleviating the burden by extending the deadlines or delaying projects where input from national competent authorities and/or industry is foreseen.

    April 02, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Use of Payment Moratoria to Address Liquidity Issues

    EBA published detailed guidance on the treatment of legislative and non-legislative moratoria on loan repayments to be applied before June 30, 2020, in light of the COVID-19 crisis.

    April 02, 2020 WebPage Regulatory News
    News

    PRA Outlines Approach to Reporting and Disclosures Amid COVID-19

    PRA published a statement to outline its approach to regulatory reporting and Pillar 3 disclosures for UK banks, building societies, designated investment firms, and credit unions.

    April 02, 2020 WebPage Regulatory News
    News

    PRA Finalizes Certain Modeling Issues for Solvency II Internal Models

    PRA published a statement (PS9/20) that sets out the final policy on modeling of income-producing real estate loans and internal credit assessment for illiquid, unrated assets within the Solvency II internal models.

    April 02, 2020 WebPage Regulatory News
    News

    EIOPA Issues Statement on Mitigating Impact of COVID-19 Outbreak

    EIOPA issued a statement to insurers and intermediaries, urging them to take steps to mitigate the impact of COVID-19 on consumers.

    April 01, 2020 WebPage Regulatory News
    News

    APRA on Changes to Reporting Obligations for Banks Due to COVID-19

    APRA, in collaboration with the Reserve Bank of Australia (RBA) and the Australian Bureau of Statistics (ABS), published a letter outlining temporary changes in reporting obligations for authorized deposit-taking institutions and registered financial corporations, in response to COVID-19.

    April 01, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4936