The Single Resolution Board (SRB) as the main resolution authority within the EU takes all its resolution-related decisions in executive sessions. In these executive sessions the following tasks are completed: a) drafting, assessment and approval of resolution plans, b) taking decisions on the use of simplified obligations when the conditions for that are met, c) determining the minimum requirement for own funds and eligible liabilities and d) adopting a resolution scheme and notifying the European Commission thereof.
The participants in the executive sessions include the Chair of the SRB, four members of the SRB management, and representatives of the national resolution authorities appointed by each banking union Member State. Whenever possible, decisions are reached by a consensus, but if this is not possible, they are taken on the basis of the majority of the votes. In the event of a tie, the Chair has the casting vote.
The SRB takes its decisions related to the functioning of the SRB, such as the annual budget, the annual work program, the investments, but in certain circumstances also decisions related to the use of Single Resolution Fund (SRF), at its plenary sessions. The participants in the plenary sessions are the same as those in the executive sessions and they take decisions whenever possible by a simple majority where each member has one vote.