Single Resolution Fund
E457846
The Single Resolution Fund is a pooled financial backstop for euro area banks, financed by the banking sector and used to support the orderly resolution of failing institutions under the EU’s banking union framework.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
European Union financial stability mechanism
ⓘ
resolution fund ⓘ |
| administeredBy | Single Resolution Board NERFINISHED ⓘ |
| aimsTo |
break the bank-sovereign nexus in the euro area
ⓘ
ensure uniform application of resolution tools and powers ⓘ |
| appliesTo |
banks established in participating Member States
ⓘ
cross-border bank resolution cases in the banking union ⓘ euro area banks ⓘ |
| beneficiary | depositors and taxpayers through reduced bailout risk ⓘ |
| contributionMethod |
ex-ante contributions
ⓘ
ex-post contributions in exceptional circumstances ⓘ |
| country | European Union ⓘ |
| financedBy |
banking sector
ⓘ
contributions from certain investment firms ⓘ contributions from credit institutions ⓘ |
| goal | reach target level of at least 1% of covered deposits of participating banks ⓘ |
| governedBy | Single Resolution Board resolution decisions ⓘ |
| hasAbbreviation | SRF NERFINISHED ⓘ |
| hasPart |
mutualised part of the fund
ⓘ
national compartments (during transitional period) ⓘ |
| hasTemporalCoverage | transitional period 2016–2023 for progressive mutualisation ⓘ |
| headquartersLocation |
Brussels, Belgium
ⓘ
surface form:
Brussels
|
| legalBasis |
Intergovernmental Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund
NERFINISHED
ⓘ
Regulation (EU) No 806/2014 NERFINISHED ⓘ |
| locatedIn | euro area ⓘ |
| ownedBy | participating Member States of the banking union ⓘ |
| partOf |
EU bank resolution framework
ⓘ
European banking union NERFINISHED ⓘ |
| purpose |
minimise use of public funds in bank resolutions
ⓘ
protect financial stability in the euro area ⓘ support orderly resolution of failing banks ⓘ |
| relatedTo |
European Stability Mechanism
NERFINISHED
ⓘ
Single Resolution Mechanism NERFINISHED ⓘ Single Supervisory Mechanism NERFINISHED ⓘ |
| replaces | national resolution financing arrangements for significant banks in the euro area ⓘ |
| riskBased | true ⓘ |
| sector | banking ⓘ |
| startTime | 2016 ⓘ |
| supervisedBy |
Council of the European Union
NERFINISHED
ⓘ
European Commission NERFINISHED ⓘ |
| usesCurrency | euro ⓘ |
| usesInstrument |
asset separation tools
ⓘ
bail-in of shareholders and creditors before fund resources ⓘ bridge institutions ⓘ sale of business tools ⓘ |
| website | https://www.srb.europa.eu/en/content/single-resolution-fund ⓘ |
Referenced by (1)
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