Update on recent banking developments

This briefing gives an update on and summarises recent events and developments in the Banking Union, based on publicly available information. It gives an overview of: 1) the Eurogroup agreement on the backstop to the Single Resolution Fund; 2) the 7th monitoring report on risk reduction indicators; 3) recent European Central Bank publications, namely the Financial Stability Review and guidance on climate- related and environmental risks; 4) recent Single Resolution Board publications, specifically its 2021 Work Programme and guidance on bank mergers and acquisitions; and 5) the EBA’s benchmarking exercise of national insolvency regimes.