On Friday 25 November 2022, Tuija Taos, Master of Laws, LLM, was appointed Board member of the Single Resolution Board (SRB) and Director of Resolution Planning and Decisions. The Council of the European Union decided on the appointment following a proposal from the European Commission endorsed by the European Parliament.
Her five-year term begins on 22 March 2023. The SRB Board consists of a Chair and five members. Taos will be involved in SRB’s decision-making when the Board sits and, additionally, will head the department responsible for resolution planning and decisions regarding the banks within the SRB’s remit.
The Single Resolution Board is the central resolution authority within the Banking Union, which at present consists of 21 countries. Its mission is to ensure an orderly resolution of failing banks, minimising the impact on the real economy, the financial system and public finances. The Banking Union consists of 19 euro area countries, plus Bulgaria and Croatia. Together with the national resolution authorities, the SRB forms the Single Resolution Mechanism.
’I am greatly looking forward to taking up what is a demanding position as member of the SRB. In my new role I will strengthen the resolvability of banks everywhere in the Banking Union and develop the system overall,’ says Tuija Taos. ’SRB is a dynamic, strong agency of expertise, where people make huge efforts for the benefit of the Banking Union. I believe that my long experience at national level and as Member of the SRB’s Plenary Sessions will prove to be of value at the SRB.’
At the same session the Council appointed Dominique Laboureix, of France, as the next Chair. He succeeds Elke König, of Germany, whose term of office expires in December.
SRB press release 28.11.2022: New SRB Chair & new Board Member: Dominique Laboureix and Tuija Taos are officially appointed by Council
Council of the European Union 25.11.2022: Council implementing decision on the appointment of the Chair and a full-time member of the Single Resolution Board
European Parliament 10.11.2022: Candidates for Chair and member of Single Resolution Board approved by plenary
Single Resolution Board: Single Resolution Board (SRB)
