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Single Resolution Mechanism (SRM)

23.11.2016

The Commission adopted a legislative proposal to amend Regulation (EU) No 806/2014 as regards loss absorbency and recapitalisation capacity for credit institutions and investment firms.

31.12.2015

The Single Resolution Mechanism becomes fully operational and implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area

17.12.2015

The Commission adopted a Delegated Regulation supplementing Regulation (EU) 806/2014 of the European Parliament and the Council on the criteria relating to the calculation of ex-ante contributions, and on the circumstances and conditions under which the payment of extraordinary ex-post contributions may be partially or entirely deferred

16.12.2015

The Commission adopted a Delegated Regulation laying down general principles and criteria for the investment strategy and rules for the administration of the Single Resolution Fund

07.12.2015

Commission welcomes the successful ratification of the Intergovernmental Agreement on the Single Resolution Mechanism by Greece

22.01.2015

The Council implementing Regulation (EU) 2015/81 of 19 December 2014 specifying uniform conditions of application of Regulation (EU) No 806/2014 with regard to ex ante contributions to the Single Resolution Fund was published in the Official Journal of the EU

19.12.2014

Council appoints permanent members of the Single Resolution Board and adopts the methodology for banks’ contributions to the resolutions funds

09.12.2014

The Council reached a political agreement on the implementing Regulation determining contributions to be paid by banks to the Single Resolution Fund

24.11.2014

The Commission formally adopted a proposal for a Council implementing act to calculate the contributions of banks to the Single Resolution Fund.

21.10.2014

The Commission adopted a draft proposal for a Council implementing act to calculate the contributions of banks to the Single Resolution Fund.

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08.10.2014

The Commission adopted a Delegated Regulation on the provisional system of instalments on contributions to cover the administrative expenditures of the Single Resolution Board during the provisional period.

30.07.2014

Regulation (EU) No 806/2014 establishing a Single Resolution Mechanism (SRM) for the Banking Union was published into the Official Journal of the EU.

20.06.2014

The European Commission launched a consultation on the contributions of credit institutions to resolution financing arrangements under the Bank Recovery and Resolution Directive and the Single Resolution Mechanism.

21.05.2014

26 Member States have signed the intergovernmental Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund (SRF), an essential part of the Single Resolution Mechanism (SRM).

15.04.2014

The European Parliament adopted the Single Resolution Mechanism (SRM) proposed by the Commission in July 2013. The SRM will complement the Single Supervisory Mechanism (SSM) and will ensure that – notwithstanding stronger supervision – if a bank subject to the SSM faces serious difficulties, its resolution can be managed efficiently with minimal costs to taxpayers and the real economy.

20.03.2014

The European Parliament and the Council reached a provisional agreement on the proposed Single Resolution Mechanism for the Banking Union

19.12.2013

Council agreed general approach on Single Resolution Mechanism.

10.07.2013

The Commission proposed a Single Resolution Mechanism for the Banking Union. The Single Resolution Mechanism complements the Single Supervisory Mechanism which was proposed by the Commission in September 2012. It is set to centralise key competences and resources for managing the failure of any bank in the Euro Area and in other Member States participating in the Banking Union.