On 27 October 2022, the European Banking Authority (EBA) published the 2023 European Resolution Examination Programme (EREP) for resolution authorities. The EREP is an EBA programme aimed at fostering convergence of resolution practices in the EU, with the first EREP having been launched in November 2021.
The EREP focusses the attention of resolution authorities on topics where traction at EU level is considered necessary. It is expected that all EU resolution authorities include the topics identified in the EREP paper in their work programmes for 2023 and, as relevant, in the work conducted in resolution colleges established under Articles 88 and 89 of the Bank Recovery and Resolution Directive. The four proposed areas of attention which are detailed in the paper are:
- how minimum requirements for own funds and eligible liabilities (MREL) shortfalls are being addressed;
- the development of management information systems for valuation in resolution;
- preparations for managing liquidity needs in resolution; and
- operationalisation of the bail-in strategy.