Public hearing with Elke König, Chair of the SRM Supervisory Board, presenting the SRB Annual Report 2017

06-07-2018

This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the Single Resolution Board (SRB), Mrs Elke König, who will inter alia present the SRB Annual Report 2017. The EP received a copy of that report on a confidential basis, under embargo until the presentation of that report. In view of that restriction, this briefing does not refer to the Annual Report in any way. The following issues are addressed in this briefing: (i) resolution financing, including the recently agreed backstop to the Single Resolution Fund (SRF) and considerations by the Eurogroup on further “work on a possible framework for liquidity in resolution, including on the possible institutional framework”; (ii) whether further harmonisation of insolvency law is necessary to complete the Banking Union ; (iii) an update on resolution cases (Banco Popular, ABLV, and Cyprus Cooperative Bank); (iv) current achievements in terms of the SRB’s work programm; (v) recent events concerning the SRB, and (vi) external briefing papers on the topic of “valuation reports”.

This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the Single Resolution Board (SRB), Mrs Elke König, who will inter alia present the SRB Annual Report 2017. The EP received a copy of that report on a confidential basis, under embargo until the presentation of that report. In view of that restriction, this briefing does not refer to the Annual Report in any way. The following issues are addressed in this briefing: (i) resolution financing, including the recently agreed backstop to the Single Resolution Fund (SRF) and considerations by the Eurogroup on further “work on a possible framework for liquidity in resolution, including on the possible institutional framework”; (ii) whether further harmonisation of insolvency law is necessary to complete the Banking Union ; (iii) an update on resolution cases (Banco Popular, ABLV, and Cyprus Cooperative Bank); (iv) current achievements in terms of the SRB’s work programm; (v) recent events concerning the SRB, and (vi) external briefing papers on the topic of “valuation reports”.