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The Single Resolution Mechanism (SRM)

In: The European Banking Regulation Handbook, Volume I

Author

Listed:
  • Christos V. Gortsos

    (National and Kapodistrian University of Athens)

Abstract

The aim of this chapter, whose structure is (almost) identical to that of Chapter 8, is to examine the key institutional aspects of the Single Resolution Mechanism (SRM), i.e., the second key pillar of the Banking Union (BU). The Single Resolution Board (SRB), the hub within that mechanism, is discussed first, with emphasis on its legal status, composition and governance, followed by a presentation of the general principles governing the operation of the SRM, the division of tasks within the SRM among the SRB and the national resolution authorities (NRAs) and cooperation arrangements. The next section develops on the investigatory powers of the SRB, as well as on its power to impose fines and periodic penalty payments. This is followed by an analysis of the provisions governing the SRB’s independence and accountability, the Appeal Panel, as well the institutional safeguards and the liability of the SRB and NRAs.

Suggested Citation

  • Christos V. Gortsos, 2023. "The Single Resolution Mechanism (SRM)," Springer Books, in: The European Banking Regulation Handbook, Volume I, chapter 0, pages 499-543, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-32859-6_9
    DOI: 10.1007/978-3-031-32859-6_9
    as

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