Stock take of the SRB’s activities over the past years: What to improve and focus on? Banking Union Scrutiny

Abstract:

It is time for the Single Resolution Board (SRB) to step into the limelight and for the authorities to let it live up to its task. Despite significant improvement in the health of banks over the last 10 years, stress tests results, money laundering scandals and bank failures indicate that the sector is not free of problems, and that the SRB may be called upon to act on a large systemic bank. Policy makers have so far preferred to continue to bail-out banks, rather than to use the SRB for what it was designed. This undermines the credibility of the institution and the single banking market.