Jurisdiction(s):
European Union

EU Banking Union: Single Resolution Mechanism - scope, SRB governance and powers, SRF funding and backstop, resolution tools, and 2019 to 2024 amendments and proposed crisis management and deposit insurance reforms

Published by a LexisNexis EU Law expert

Practice notes

Background

The financial and economic turmoil that started in 2007 exposed the growing danger of financial fragmentation within the EU’s internal market for banking services. In response, the EU created the European Banking Union, founded on a single rulebook governing financial services across the internal market as a whole, creating uniform rules across the Union consistently. This framework deepens the integration of EU banking systems, seeking to safeguard the stability and integrity of the EU internal market. Within the European Banking Union, a Single Supervisory Mechanism (SSM) was set up by Council Regulation (EU) 1024/2013 (the EU SSM Regulation), aligning the supervision of credit institutions across the internal market on a consistent basis. All banks overseen by the SSM also participate in the Single Resolution Mechanism (SRM) (established by Council Regulation (EU) 806/2014, the EU SRM Regulation). The SRM is a central component of harmonising the resolution regime introduced by the Bank Recovery and Resolution Directive 2014/59/EU (BRRD) in those Member States taking part in the SSM (ie all Member States in the Euro-zone and those non-Euro area Member States that have opted to participate in the SSM). The SRM seeks to ensure that a bank failure does not harm...

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Web page updated on 21/05/2026

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