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Updated 27/07/2024

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In force since 19/08/2014

Version from: 13/05/2024

Level 2 legal acts in relation to SRMR

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Procedure 2013/0253/COD

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Synchronised with EUR-Lex on 27/07/2024

SRMR Tool Single Resolution Mechanism Regulation (SRMR)

Single Resolution Mechanism Regulation (SRMR)

Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010

PART I - GENERAL PROVISIONS (Article 1-7)Article 1 - Subject matter Article 2 - Scope Article 3 - Definitions Q&A Article 4 - Participating Member States Article 5 - Relation to Directive 2014/59/EU and applicable national law Article 6 - General principles Article 7 - Division of tasks within the SRM Q&A

PART II - SPECIFIC PROVISIONS (Article 8-41)

TITLE I - FUNCTIONS WITHIN THE SRM AND PROCEDURAL RULES (Article 8-41)

CHAPTER 1 - Resolution planning (Article 8-12k)Article 8 - Resolution plans drawn up by the Board Article 9 - Resolution plans drawn up by national resolution authorities Article 10 - Assessment of resolvability Article 10a - Power to prohibit certain distributions Q&A Article 11 - Simplified obligations for certain institutions Article 12 - Minimum requirement for own funds and eligible liabilities Q&A Article 12a - Application and calculation of the minimum requirement for own funds and eligible liabilities Article 12b - Exemption from the minimum requirement for own funds and eligible liabilities Article 12c - Eligible liabilities for resolution entities Article 12d - Determination of the minimum requirement for own funds and eligible liabilities Article 12e - Determination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs and Union material subsidiaries of non-EU G-SIIs Article 12f - Application of the minimum requirement for own funds and eligible liabilities to resolution entities Article 12g - Application of the minimum requirement for own funds and eligible liabilities to entities that are not themselves resolution entities Article 12h - Waiver of the minimum requirement for own funds and eligible liabilities applied to entities that are not themselves resolution entities Article 12i - Waiver for a central body and credit institutions permanently affiliated to a central body Article 12j - Breaches of the minimum requirement for own funds and eligible liabilities Article 12k - Transitional and post-resolution arrangements Q&A

CHAPTER 2 - Early intervention (Article 13)Article 13 - Early intervention

CHAPTER 3 - Resolution (Article 14-29)Article 14 - Resolution objectives Article 15 - General principles governing resolution Article 16 - Resolution of financial institutions and parent undertakings Article 17 - Order of priority of claims Article 18 - Resolution procedure L2Q&A Article 19 - State aid and Fund aid Article 20 - Valuation for the purposes of resolution Article 21 - Write-down or conversion of capital instruments and eligible liabilities Q&A Article 22 - General principles of resolution tools Article 23 - Resolution Scheme Article 24 - Sale of business tool Article 25 - Bridge institution tool Article 26 - Asset separation tool Article 27 - Bail-in tool Article 28 - Monitoring by the Board Article 29 - Implementation of decisions under this Regulation Q&A

CHAPTER 4 - Cooperation (Article 30-33)Article 30 - Obligation to cooperate and information exchange within the SRM Article 31 - Cooperation within the SRM Article 32 - Consultation of, and cooperation with, non-participating Member States and third countries Article 33 - Recognition and enforcement of third-country resolution proceedings

CHAPTER 5 - Investigatory powers (Article 34-37)Article 34 - Requests for information Article 35 - General investigations Article 36 - On-site inspections Article 37 - Authorisation by a judicial authority

CHAPTER 6 - Penalties (Article 38-41)Article 38 - Fines Article 39 - Periodic penalty payments Article 40 - Hearing of the persons subject to the proceedings Article 41 - Disclosure, nature, enforcement and allocation of fines and periodic penalty payments

PART III - INSTITUTIONAL FRAMEWORK (Article 42-92)

TITLE I - THE BOARD (Article 42-48)Article 42 - Legal status Article 43 - Composition Article 44 - Compliance with Union law Article 45 - Accountability Article 46 - National parliaments Article 47 - Independence Article 48 - Seat

TITLE II - PLENARY SESSION OF THE BOARD (Article 49-52)Article 49 - Participation in plenary sessions Article 50 - Tasks Article 51 - Meeting of the plenary session of the Board Article 52 - General provisions on the decision-making process

TITLE III - EXECUTIVE SESSION OF THE BOARD (Article 53-55)Article 53 - Participation in the executive sessions Article 54 - Tasks Article 55 - Decision-making

TITLE IV - CHAIR (Article 56)Article 56 - Appointment and tasks

TITLE V - FINANCIAL PROVISIONS (Article 57-79)

CHAPTER 1 - General provisions (Article 57-66)Article 57 - Resources Article 58 - Budget Article 59 - Part I of the budget on the administration of the Board Article 60 - Part II of the budget on the Fund Article 61 - Establishment and implementation of the budget Article 62 - Internal audit and control Article 63 - Implementation of the budget, presentation of accounts and discharge Article 64 - Financial rules Article 65 - Contributions to the administrative expenditures of the Board DA Article 66 - Anti-fraud measures

CHAPTER 2 - The Single Resolution Fund (Article 67-79)

Section 1 - Constitution of the Fund (Article 67-74)Article 67 - General provisions Article 68 - Requirement to establish resolution financing arrangements Article 69 - Target level DA Article 70 - Ex-ante contributions DA Article 71 - Extraordinary ex-post contributions DA Article 72 - Voluntary borrowing between resolution financing arrangements Article 73 - Alternative funding means Article 74 - Access to financial facility

Section 2 - Administration of the Fund (Article 75)Article 75 - Investments DA

Section 3 - Use of the Fund (Article 76-79)Article 76 - Mission of the Fund Article 77 - Use of the Fund Article 78 - Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States Article 79 - Use of deposit guarantee schemes in the context of resolution

TITLE VI - OTHER PROVISIONS (Article 80-92)Article 80 - Privileges and Immunities Article 81 - Language arrangements Article 82 - Staff Article 83 - Staff exchange Article 84 - Internal committees Article 85 - Appeal Panel Article 86 - Actions before the Court of Justice Article 87 - Liability of the Board Article 88 - Professional secrecy and exchange of information Article 89 - Data protection Article 90 - Access to documents Article 91 - Security rules on the protection of classified and sensitive non-classified information Article 92 - Court of Auditors

PART IV - POWERS OF EXECUTION AND FINAL PROVISIONS (Article 93-99)Article 93 - Exercise of the delegation Article 94 - Review Article 95 - Amendment to Regulation (EU) No 1093/2010 Article 96 - Replacement of national resolution financing arrangements Article 97 - Headquarters Agreement and operating conditions Article 98 - Start of the Board's activities Article 99 - Entry into force

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