Featured Product

    SRB Consults on Single Resolution Fund Contributions for 2021

    March 05, 2021

    SRB launched a consultation in relation to the 2021 ex-ante contributions to the Single Resolution Fund (SRF). With this consultation, institutions have the opportunity to review the preliminary Master Decision of SRB for the 2021 ex-ante contributions before its adoption and are invited to comment on any aspect they consider pertinent to the calculation exercise. The consultation process will end on March 19, 2021. The responses to the consultation will be analyzed and integrated in the decision-making process, further to which SRB will publish a final decision on the contributions for the 2021 cycle.

    SRB considers that the consultation will allow it to better structure its dialog with the institutions in scope and facilitate the decision-making process.  The aim of the consultation is to: 

    • Structure the ad hoc, bilateral, and institution-specific dialogs ongoing with ex-ante contribution debtors
    • Set a clear timeframe and communication channel for the submission of requests or considerations
    • Facilitate communication with SRB
    • Further enhance the transparency and robustness of the ex-ante contributions process

    SRF is an emergency fund that is being built up over eight years between 2016 and 2023. It is an important tool in the financial stability toolbox of EU and was created in the wake of the last financial crisis in 2008. Banks and other financial institutions that contribute to the SRF can give their views on how SRB envisages determining the 2021 ex-ante contributions. More than 3,000 banks and other financial institutions across the 21 Banking Union countries contribute to SRF each year. 

     

    Related Links

    Comment Due Date: March 19, 2021

    Keywords: Europe, EU, Banking, Single Resolution Fund, SRF, Banking Union, Resolution Framework, SRB

    Related Articles
    News

    APRA Decides to Standardize Submission Date for Quarterly Reporting

    APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.

    May 11, 2021 WebPage Regulatory News
    News

    Bundesbank Publishes Supporting Documentation for Reporting by Banks

    Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.

    May 11, 2021 WebPage Regulatory News
    News

    ECB Working Group Publishes Recommendations on EURIBOR Fallbacks

    The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).

    May 11, 2021 WebPage Regulatory News
    News

    EBA Publishes Phase 1 of Reporting Framework 3.1

    EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).

    May 10, 2021 WebPage Regulatory News
    News

    APRA to Finalize Capital Adequacy Standard Revisions by January 2022

    Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA

    May 10, 2021 WebPage Regulatory News
    News

    ESMA Issues Guidelines on Outsourcing to Cloud Service Providers

    ESMA published the final guidelines on outsourcing to cloud service providers.

    May 10, 2021 WebPage Regulatory News
    News

    EBA Publishes Data on Deposit Guarantee Schemes

    EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.

    May 10, 2021 WebPage Regulatory News
    News

    OSFI Sets Out Plan for Future Guidance on Managing Technology Risk

    OSFI has set out the schedule for release of draft guidance on the management of technology risks by federally regulated financial institutions and private pension plans.

    May 10, 2021 WebPage Regulatory News
    News

    MAS Updates Housing Loan Rules, Proposes Corporate Governance Guidance

    MAS updated rules for new housing loans by banks and finance companies.

    May 10, 2021 WebPage Regulatory News
    News

    HKMA Publishes Guideline on Sustainable Finance Grant Scheme

    HKMA published a statement on the 100% Personal Loan Guarantee Scheme and a guideline on the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) as announced in the 2021-22 Budget.

    May 09, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6959