On 18 January 2022, the Single Resolution Board (SRB), issued a new webpage mentioning its priorities for 2022.
The SRB remains focussed on building resolvability in all banks under its remit, as set out in its 2022 work programme and multi-annual programme for 2021-23.
Three key priorities are:
- Build-up of the minimum requirement for own funds and eligible liabilities (MREL). The SRB expects most of the banks under its remit to respect the January 2022 intermediate MREL target. All banks are encouraged to continue to build up their MREL in the current market of low interest rates.
- Separability and reorganisation plans. For mid-sized banks, the SRB is prioritising the work on transfer tools, separability and adjustments of MREL for such transfer tools. During 2021, the SRB issued a guidance note on separability and it will continue to work on this area in 2022.
- Information systems and management information systems. The SRB has observed banks’ reorganisation efforts to become more efficient and customer-focused. IT and cyber risks and their management, particularly regarding the timely availability of data, should be a key priority for banks and it will benefit resolution planning and crisis preparedness.