What is the role of the Single Resolution Board (SRB)?

Published: 3/6/2020 Modified: 17/5/2022

The Single Resolution Board (SRB) is a European banking regulator and an independent agency of the EU, headquartered in Brussels. Its duty is to ensure effective and consistent functioning of the Single Resolution Mechanism (SRM) while working closely with the national resolution authorities across the banking union and further afield, given the very international nature of the finance world. Regulation (EU) 806/2014 is the EU legislative act   that establishes the SRM and the SRB as the centralised authority for the resolution of credit institutions in the banking union.

The key tasks of the SRB are:

  1. drafting of resolution plans and adopting of all resolution-related decisions for
    • credit institutions and groups of credit institutions that are considered significant or that the European Central Bank (ECB) has chosen to supervise directly; and
    • “other cross-border groups”, i.e. groups in which the parent credit institution and at least one subsidiary credit institution are established in two different participating Member States;
  2. managing the Single Resolution Fund (SRF);
  3. coordinating activities and cooperation with the ECB, the national supervisory and resolution authorities, competent ministries, the European Banking Authority and other institutions operating in the area of resolution-related issues in the EU and the rest of the world.

Once Croatia joined the SRM on 1 October 2020, the SRB became directly responsible for the exercise of resolution powers over a part of credit institutions headquartered in Croatia. As regards other credit institutions, for which the SRB is not directly responsible, it co-operates closely with the national resolution authority in Croatia.