The Single Resolution Board published its Annual Report for 2024, the first to report on the implementation of its SRM Vision 2028 strategy and its work to test banks’ resolvability and operationalise resolution strategies. The report highlights progress made with National Resolution Authorities on crisis readiness, including developing and refining crisis management procedures and tools and enhancing resolution planning for smaller institutions. It also notes that, after reaching the target level of 1% of covered deposits at end-2023, the Single Resolution Fund did not raise any contributions in 2024, and banks maintained their minimum requirement for own funds and eligible liabilities at target levels. Foundations were also laid to begin on-site inspections to further fine-tune resolution plans. The report is due to be presented to the European Parliament’s Economic and Monetary Affairs Committee in July.
Single Resolution Board 2025-06-30
Single Resolution Board publishes 2024 Annual Report on crisis-readiness milestones and no Single Resolution Fund contributions in 2024
The Single Resolution Board's 2024 Annual Report outlines the SRM Vision 2028 strategy, focusing on testing banks' resolvability and operationalizing resolution strategies. It highlights collaboration with National Resolution Authorities on crisis readiness and notes that the Single Resolution Fund did not raise contributions in 2024 after reaching its target. The report will be presented to the European Parliament’s Economic and Monetary Affairs Committee in July.