Featured Product

    SRB Reports Its Progress, Notes Most Banks Meet Intermediate Targets

    November 07, 2022

    The Single Resolution Board (SRB) published a note on reporting on the authority's progress to Eurogroup and the dashboard on the minimum requirement for own funds and eligible liabilities (MREL) for the second quarter of 2022. The data show that almost all banks met the MREL intermediate 2022 targets (including the combined buffer requirement). The very few shortfall cases, however, are being closely monitored. The SRB note highlights, that, overall, most banks already meet the final MREL target (of January 01, 2024). In an additional development, SRB signed a new cooperation arrangement with the Central Bank of Montenegro (CBCG) on the exchange of information on resolution planning and implementation for banks with cross-border operations.

    The bi-annual note, as part of which SRB is reporting its progress, provides updates on the recent resolution cases, outlines resolvability progress of SRB banks, provides an update on the Single Resolution Fund (SRF), and work priorities for 2023,  SRB notes that its 2022 Resolution Planning Cycle, launched in April 2022, is well on track. SRB, together with the national resolution authorities, has updated 102 resolution plans for the banking groups under its remit. SRB has also sent letters with the 2023 working priorities to the CEOs of the banks under its remit in recent weeks. Moreover, SRB set out the lessons learned from recent resolution case on the Sberbank and the way forward for the crisis management and deposits insurance (CMDI). 2022 and 2023 will be the last years in which the Single Resolution Fund (SRF) is still being built-up, after which contributions should level off. In 2024, SRF will be fully mutualized and stand at ~ EUR 80 billion (1% of covered deposits) and the national Deposit Guarantee Schemes should also have reached their targets of 0.8% of covered deposits. The work priorities for 2023 include liquidity management and funding in resolution for all banks. SRB notes that 2023 will be a transitional year where it will shift focus from the phase-in of general SRB Expectations for Banks (EfB) and preparation of the basic resolution plans to even more targeted bank monitoring. 


    Related Links



    Keywords: Europe, EU, Banking, MREL, MREL Dashboard, Basel, Regulatory Capital, Single Resolution Fund, SRF, Reporting, Resolvability Assessment, Cooperation Agreement, Common Backstop, Resolution Planning, SRB

    Featured Experts
    Related Articles

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News

    ISSB Standards May Become Effective from January 2024

    The International Organization of Securities Commissions (IOSCO) welcomed the confirmation statement by the International Sustainability Standards Board (ISSB) setting out its progress in the development of its first sustainability-related corporate disclosure standards.

    February 17, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8792