What does it mean when a bank is failing or likely to fail? #FOLTF #AcronymWednesday

1)No supervisory or private sector intervention can restore the bank to viability in time
2)Financial stability and public interest are threatened

Learn more: https://bit.ly/3RGXJsD

🐦🔗: https://nitter.eu/EU_SRB/status/1554814889868279814

What is the Single Resolution Fund? 🧐
#SRF #AcronymWednesday #SRBexplainer

The Single Resolution Fund (SRF) is an emergency fund used to ensure the efficient application of resolution tools to resolve a failing bank in times of crisis.

Learn more: https://www.youtube.com/watch?v=Z27duhzQ5so

🐦🔗: https://nitter.eu/EU_SRB/status/1542040516170317824

#AcronymWednesday #SRBexplainer 💡🤓

What is the Public Interest Assessment? #PIA

PIA is the main policy tool used to assess whether a failing bank should be resolved in the public interest.

Learn more about PIA in our latest #SRBpodcast #SRBinfive https://www.srb.europa.eu/en/content/podcast-srb-5

🐦🔗: https://nitter.eu/EU_SRB/status/1537012385076092928

Do you know what the ESM stands for? #AcronymWednesday!

The European Stability Mechanism is a governmental organisation supporting Eurozone countries to handle financial crises and maintain financial stability, by granting loans and financial assistance.

Learn more: @ESM_Press

🐦🔗: https://nitter.eu/EU_SRB/status/1534430204084510723

Time to explore the #EBA in today’s #AcronymWednesday!

The European Banking Authority (EBA) is an independent EU Authority. It operates to ensure effective and consistent prudential regulation and supervision across the European banking sector.

Find out more: @EBA_News

🐦🔗: https://nitter.eu/EU_SRB/status/1532014566372261890

#AcronymWednesday!

What are #CCPs? 🧐

A Central Clearing Counterparty (CCP) is an entity that facilitates efficiency, safety and stability of trading in various European derivatives and financial markets. It guards against the default of buyer and/or seller in a trading deal.

🐦🔗: https://nitter.eu/EU_SRB/status/1529387014763814912

Today in #AcronymWednesday: Expectations for Banks #EfB

EfBs are priority areas on which all banks under the remit of the SRB are expected to work on, in order to be resolvable.

EfBs include seven dimensions. Learn more: https://www.srb.europa.eu/en/content/infographics

#SRBinfographic #SRBexplainer

🐦🔗: https://nitter.eu/EU_SRB/status/1526850303001231361

Another #AcronymWednesday!

Today: #MREL. Minimum Required Funds and own Liabilities should be met by institutions established in the EU. It ensures an effective and credible application of resolution schemes, should the bank fail #bankingUnion

Learn more https://www.srb.europa.eu/en/content/mrel

🐦🔗: https://nitter.eu/EU_SRB/status/1524374214446395392

Today in #AcronymWednesday #CMG!

The SRB sets up crisis management groups for the global systemically important banks under its remit, conducting an annual resolvability assessment (RAP) process, and preparing the RAP letters for the FSB.

Learn more: http://ow.ly/mayZ50IWNGE

🐦🔗: https://nitter.eu/EU_SRB/status/1521807107313520642

Today in #AcronymWednesday #IRT!

Internal Resolution Teams are responsible for drawing up resolution plans, in consultation with the ECB or the relevant National Competent Authority. For each bank under direct SRB remit, an IRT has been jointly established and is led by the #SRB

🐦🔗: https://nitter.eu/EU_SRB/status/1519316218209091585

#Acronymwednesday #SRM #SRBexplainer 🤓

The SRB is part of the Single Resolution Mechanism #SRM

The SRM plans for and manages bank failures. It consist of the #SRB and the #NRA’s in theEurozone countries 🇪🇺 , Bulgaria 🇧🇬 and Croatia 🇭🇷.

Learn more: https://www.srb.europa.eu/en/content/single-resolution-mechanism-srm

🐦🔗: https://nitter.eu/EU_SRB/status/1516764118472142849

#AcronymWednesday #FOLTF 🤓

Failing or likely to fail: Authorities determine a bank as FOLTF, when no other supervisory or private sector intervention can restore it to viability. After a bank is determined FOLTF, the SRB initiates its resolution.

#EndingTbtf

🐦🔗: https://nitter.eu/EU_SRB/status/1514121376441028608

Today on #Acronymwednesday

#NRA’s !

National Resolution Authorities are part of #BankingUnion countries. They are empowered to exercise resolution powers over banks within their own remit.

Stay tuned every Friday and get introduced to the NRA’s!

http://ow.ly/SzNR50IysxN

🐦🔗: https://nitter.eu/EU_SRB/status/1511403726380179460