Single Resolution Board (SRB) - (Decentralised Agencies)
Official information sourcehttps://european-union.europa.eu/institutions-law-budget/institutions-and-bo...
Decentralised agencies contribute to the implementation of EU policies. They also support cooperation between the EU and national governments by pooling technical and specialist expertise from both the EU institutions and national authorities. Decentralised agencies are set up for an indefinite period and are located across the EU.
- Role: Ensure the orderly resolution of failing banks, with minimum impact on the real economy and the public finances of the participating EU countries and others
- Chair: Dominique Laboureix
- Partners: European Parliament, European Commission, European Central Bank (ECB), National Resolution Authorities (NRAs), European Banking Authority (EBA)
- Established in: January 2015
- Number of staff: 400
- Location: Brussels (Belgium)
- Website: Single Resolution Board
The Single Resolution Board (SRB) is the European Banking Union's resolution authority. It is a key element of the Banking Union and its Single Resolution Mechanism. Its mission is to ensure the orderly resolution of failing banks, with as little impact as possible on the real economy and public finances of the participating EU countries and others.
What it does
Its main tasks are to:
- establish standard rules & procedures for the resolution of entities
- take decisions on resolution within the Banking Union according to a standard process - this helps maintain market confidence
- establish credible & feasible arrangements for resolution
- remove obstacles to resolution, to make the banking system in Europe safer
- minimise resolution costs & avoid destruction of value unless necessary to achieve the resolution objectives
- provide key benefits for taxpayers, banks & deposit-holders
- promote EU-wide financial & economic stability.
The Single Resolution Board will be able to act swiftly, appropriately and proportionately to establish recovery and resolution arrangements for Eurozone banks. The aim is to avoid future bail-outs and place the burden of resolution on the banks, with minimum costs to taxpayers and the real economy.
Single Resolution Board
Postal address: Treurenberg 22, 1049 Brussels, Belgium