Candidates for Chair and member of Single Resolution Board approved by plenary 

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MEPs on Thursday approved a Frenchman as Chair and a Finn as member of the Single Resolution Board, the EU’s authority tasked with ensuring an orderly resolution of failing banks.

During their Thursday sitting in plenary, MEPs approved by secret ballot Frenchman Dominique Laboureix for the position of Chair of the Single Resolution Board (SRB) by 458 votes in favour, 73 against and 68 abstentions. They then approved, also by secret ballot, Finnish woman Tuija Taos as board member by 463 votes in favour, 63 against and 74 abstentions.  The European Parliament is required to approve candidates for positions on the board of the SRB.

The two candidates had received a positive opinion from the EP's economic and monetary affairs committee on 25 October.


Background

The Chair and members of the board of the SRB are chosen according to Article 56 of the Regulation establishing the Single Resolution Mechanism. The EP must approve the candidates for positions on the board of the SRB for them to be able to then take office. Once the EP has approved a candidate, the Council is then required to confirm the approval.