On 26 November 2021, the Single Resolution Board (SRB) published it 2022 Annual Work Programme, setting out its objectives and priorities for 2022. The SRB is committed to making banks fully resolvable by the end of 2023.
In 2022, the SRB will work on enforcing and operationalising the guiding principles in the SRB’s Expectations for Banks and Minimum Requirement for Own Funds and Eligible Liabilities policy.
The 2022 programme comes at a time when economies are dealing with the COVID-19 pandemic, making the SRB’s work on resolvability and crisis readiness more important to minimise any impact of potential bank failure on financial stability and the public.
The focus on 2022 will be on achieving resolvability of SRB entities and less significant institutions, creating a robust resolution framework, carrying out effective crisis management, operationalising the Single Resolution Fund, with the Common Backstop set to enter into force in early 2022, and establishing a lean and efficient organisation.