The Single Resolution Board (SRB) published its 2020 Work Programme, setting out its priorities and core tasks for the year ahead to strengthen the resolvability of SRB entities and less significant institutions, foster a robust resolution framework, carry out effective crisis management, build up further the Single Resolution Fund (SRF) (from €33 billion in 2019 to around €41 billion in 2020) and establish a lean and efficient organisation. Important priorities include operationalising the political agreements on the backstop reached in 2019 and increasing preparedness for potential new Banking Union members to make SRF contributions. Another priority will be ensuring that the SRB’s internal policies, resolution plans and minimum requirements for own funds and eligible liabilities (MREL) decisions reflect the requirements of the new banking package. The SRB also expects banks to make themselves resolvable, taking on board these new and existing requirements. The SRB’s ‘Expectations for Banks’ document, which was published for public consultation until 4 December 2019, sets out the general capabilities the SRB expects banks to demonstrate in order to show that they are resolvable.

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