The Single Resolution Board (SRB) has been up and running since 1 January 2015 and is the European resolution authority for the newly created Banking Union. The board is a key part of the Single Resolution Mechanism, which will ensure that if a bank subject to the Single Supervisory Mechanism should face serious difficulties, despite stronger supervision, its resolution can be managed efficiently with minimal costs to taxpayers and the real economy. The SRB, which will work in close cooperation with the national resolution authorities of participating Member States, the European Commission and the European Central Bank, will also be in charge of the Single Resolution Fund – a pool of money financed by the banking sector that will be set up to ensure that medium-term funding support is available while a credit institution is being restructured.

In this interview, the Chair of the Single Resolution Board Elke König talks about setting up the board, working with a multi-cultural team of experts and what the main challenges will be in the coming months and years.

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