SRB launched public consultation on its “Expectations for Banks”
The Single Resolution Board (SRB) today launches its first public consultation on its “Expectations for Banks” document, which outlines best practice on key aspects of resolvability. The consultation is part of the SRB’s commitment to listening to the views of banks and other stakeholders and being transparent about its approaches and decisions.
The “Expectations for Banks” document sets out the capabilities the SRB expects banks to demonstrate in order to show that they are resolvable. It reflects best practice in and sets benchmarks for assessing resolvability. The document will provide clarity to the market on the actions the SRB expects banks to take.
While the expectations are general, their application will be tailored to each individual bank, based on a dialogue with the SRB’s internal resolution teams. The result will feed into the SRB’s annual resolution work programmes for banks.
In line with our intention to consult the industry on key documents, the SRB invites feedback between 23 October and 4 December 2019.