Single Resolution Board (SRB)

Single Resolution Board (SRB)

Since January 2015, the SRB has been responsible for the effective functioning of the SRM. In particular, it is empowered to take decisions relating to significant entities or groups and cross-border groups.

With regards to its composition, the SRB operates in executive session, which may be restricted or extended, and in plenary session.

  • The restricted executive session is composed of the Chair, the Vice-Chair and the four further full-time Board Members. The scope of its powers is wide and it adopts all the decisions necessary to apply the SRM Regulation, unless otherwise provided.
  • The extended executive session takes the decisions relating to a specific institution both in planning and in execution of the resolution (with exceptions in the case of the use of the SRF above a threshold). In addition to the members of the restricted executive session, it includes the representatives of the Member States in which the institution in question is established, which must act with independence and objectivity in the interest of the Union as a whole and whose vote, however, is not taken into account in the absence of consensus.
  • The plenary session of the SRB is also comprised of the Chair, the four further full-time Board Members and the representatives of the national resolution authorities. They adopt decisions of a more general nature: annually, the decisions relating to its working programme, activity report and budget; decisions on investments and staff; on the need to collect extraordinary ex-post contributions for the Single Resolution Fund and decisions relating to its use if the specific resolution scheme requires support greater than 5 billion euros, etc.

Cooperation between the SRB and the national resolution authority is implemented through “internal resolution teams”. For each group, the SRB has created teams made up of its own staff and staff from the national resolution authorities named IRTs that are responsible for drawing up the resolution plans.

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