The year 2024 marks the beginning of a new phase for the Single Resolution Board (SRB). The transitional period during which the SRB was building crucial elements to establish the Banking Union (BU) resolution framework was completed by the end of 2023, after eight years of hard work together with the National Resolution Authorities (NRAs) in the context of the Single Resolution Mechanism (SRM), as well as with the industry. Being ready for crises and fostering the resolvability of banks in the BU remains at the core of the SRB’s mandate, in order to achieve its mission of ensuring an orderly resolution of failing banks with minimum impact on the real economy, the financial system and the public finances of the BU’s member states and beyond. Over the next five years, the SRM will increase its focus on crisis management and readiness, the operationalisation of all resolution tools, and the implementation of comprehensive testing to ensure the effective resolvability of banks. The SRB, in close collaboration with the NRAs, will develop a general testing framework and multi-annual plan, carrying out more frequent dry-runs that will gradually involve an increasing number of relevant internal and external stakeholders involved in resolution or liquidation. The SRB will enhance its capabilities to manage crises with diverse triggers efficiently and will focus on completing the operationalisation of resolution tools within the SRM. To achieve this, the SRM will continue to develop, innovate and test an efficient and flexible crisis preparedness and management framework, building on its solid experience and strong external cooperation and coordination. The SRB will also continue implementing activities that have become part of its regular portfolio, such as the management of the Single Resolution Fund (SRF) and Less Significant Institution (LSI) oversight.
Authors
- Catalogue number
- FP-AB-24-001-EN-N FP-AB-24-001-EN-C
- Citation
- Single Resolution Board, SRB multi-annual plan 2024-2028 , Publications Office of the European Union, 2024, https://data.europa.eu/doi/10.2877/937806
- DOI
- https://data.europa.eu/doi/10.2877/306816 https://data.europa.eu/doi/10.2877/937806
- ISBN
- 978-92-9475-359-5
- ISSN
- 2529-6728
- Pages
- 120
- Published in
- Belgium
- Themes
- Banks, insurance
Table of Contents
- Foreword 7
- Abbreviations 9
- Executive summary 11
- Mission statement 12
- Section I: General context 13
- Section II: Multi-annual plan 2024-2028 17
- Part I: Operations 18
- Strategic area 1: Core Business 18
- Strategic objective 1.1: Powerful crisis preparedness and management 19
- Strategic objective 1.2: Crisis-oriented resolvability and resolution planning 22
- Strategic objective 1.3: SRM as a reference in the resolution field 25
- Standard operations that contribute to core business objectives 28
- Strategic area 2: Governance, organisation and tools 31
- Strategic objective 2.1: Strengthened governance and streamlined structure 32
- Strategic objective 2.2: Strong and positive organisational culture and values 34
- Strategic objective 2.3: Digital transformation and use of best-practice technologies 36
- Strategic area 3: Human Resources 38
- Strategic objective 3.1: Motivated and professional pool of talent 39
- Strategic objective 3.2: Learning and development 40
- Strategic objective 3.3: Increased focus on diversity and inclusion 42
- Part II: Human and financial resources. Outlook for the years 2024-2028 43
- Overview of past and current situation 43
- Outlook for the years 2024-2028 43
- Resource programming for the years 2024-2028 44
- Strategy for achieving efficiency gains 45
- Rebalancing our priorities 46
- Section III: 2024 Work Programme (amended) 47
- Executive summary 48
- Part I: Operations 49
- Strategic area number 1: Core business 49
- Strategic Objective 1.1: Powerful crisis preparedness and management 49
- Strategic Objective 1.2: Crisis-oriented resolvability and resolution planning 52
- Strategic Objective 1.3: SRM as a reference in resolution field 55
- Strategic area number 2: Governance, organisation and tools 68
- Strategic Objective 2.1: Strengthened governance and streamlined structure 68
- Strategic Objective 2.2: Strong and positive organisational culture and values 70
- Strategic Objective 2.3: Digital transformation and best-practice technologies 71
- Strategic area number 3: Human resources 74
- Strategic Objective 3.1: Motivated and professional pool of talent 74
- Strategic Objective 3.2: Learning and development 75
- Strategic Objective 3.3: Increased focus on diversity and inclusion 76
- Part II: Support activities 78
- SRB Secretariat 79
- SRB Legal Service 79
- Appeal Panel 80
- Data Protection Office 81
- Compliance 82
- Internal Control Office 82
- Internal audit 83
- Budgetary and financial management 83
- Annexes 85
- Annex I. Organisational chart 86
- Annex II. Members of the Plenary Session 87
- Annex III. Resource allocation 90
- Annex IV. Financial resources 93
- Annex V. Human resources 101
- Annex VI. Indicative procurement plan for 2024 104
- Annex VII. Building policy 105
- Annex VIII. Privileges and immunities 106
- Annex IX. Strategy for the organisational management and internal control systems 107
- Annex X. Summary of Key Performance Indicators 109
- Figure 1. SRM Vision 2028 strategic objectives and values 12
- Figure 2. Strategic objectives and standard operations under area 1: Core business 18
- Figure 3. Strategic objectives under area 2: Governance, organisation and tools 31
- Figure 4. Strategic objectives under area 3: Human Resources 38
- Figure 5. Crisis readiness approach 51
- Figure 6. SRB functions to mandate 78
- Table 1. Oversight of Less Significant Institutions and Less Significant Institution groups by Member State 59
- Table 2. Overview of resolution plan figures 63
- Table 3. Number of staff 77
