Featured Product

    SRB Publishes Work Program for 2020

    October 28, 2019

    SRB published its work program for 2020. The work program sets out the priorities and core tasks for the year ahead. The work program for 2020 is an ambitious roadmap toward strengthening the resolvability of SRB entities and less significant institutions, fostering a robust resolution framework, carrying out effective crisis management, further building up the Single Resolution Fund (from 33 billion in 2019 to about 41 billion next year), and establishing a lean and efficient organization.

    A focus for the year ahead will be on ensuring that the internal policies, resolution plans, and minimum requirements for own funds and eligible liabilities (MREL) decisions reflect the requirements of the new banking package. SRB also expects banks to proactively work to make themselves resolvable, taking on board these new and existing requirements. On October 23, 2010, SRB published, for public consultation, the "Expectations for Banks." In its expectations for banks, SRB sets out the general capabilities it expects banks to demonstrate to show that they are resolvable. Other important priorities will be operationalizing the political agreements on the backstop reached in 2019 as well as increasing preparedness for potential new Banking Union members with regard to the Single Resolution Fund contributions. 

    2020 is the final year of the 2018-2020 multi-annual work program of SRB and will mark the fifth anniversary of the SRB taking on full powers within the Single Resolution Mechanism. The year will also see SRB operate at full staff capacity for the first time, with close to 400 colleagues on hand to deliver the  ambitious program of SRB. SRB work program for 2020 is in line with the medium-term objectives set out in the multi-annual program and is structured around the same five strategic areas. As with the multi-annual program, it should be noted that SRB is primarily a crisis management organization, which requires flexibility to act effectively and in a timely manner. Hence, while the 2020 work program will guide the activities of SRB during 2020, different outputs may deviate from the planned work program. SRB will develop the next multi-annual work program, covering the 2021-2023 period, in 2020.

     

    Related Links

    Keywords: Europe, EU, Banking, Crisis Management Framework, Resolution Framework, Resolution Planning, Single Resolution Fund, Work Program, MREL, SRB

    Featured Experts
    Related Articles
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    News

    HKMA Extends Repayment for Trade Facilities, Consults on Crypto-Assets

    The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.

    January 12, 2022 WebPage Regulatory News
    News

    FCA Registers Securitization Repositories; PRA Issues 2022 Priorities

    The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.

    January 12, 2022 WebPage Regulatory News
    News

    EC Regulation Sets Out Methods for Measuring K-Factors Under IFR

    The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.

    January 11, 2022 WebPage Regulatory News
    News

    BIS Studies How Platform Models Impact Financial Stability & Inclusion

    The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.

    January 10, 2022 WebPage Regulatory News
    News

    CBE Issues Additional Measures to Ease Disruptions from Pandemic

    The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements.

    January 10, 2022 WebPage Regulatory News
    News

    ESAs Publish List of Financial Conglomerates for 2021

    The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.

    January 07, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7868