Single Resolution Board (SRB)

Source: Europa Nu.

The Single Resolution Board (SRB) is the new 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.

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 decided in June 2017 that the sale of the Spanish Banco Popular was necessary. It was sold to its competitor Banco Santander, for the symbolic price of €1.