About: Single Resolution Board (SRB)
Sberbank Europe to be closed, subsidiaries sold
The European arm of Sberbank, Russia's biggest lender, has been closed by order of the European Central Bank (ECB), which had warned it faced failure due to a run on deposits after Russia invaded Ukraine.
Sberbank Europe likely to fail according to European Central Bank
The European Central Bank (ECB) concluded on Monday (28 February) that Sberbank Europe is failing or likely to fail, following considerable withdrawals from the accounts of Sberbank’s European subsidiary over the past week.
Brexit ‘not imminent risk to financial stability’, says bank watchdog
Despite the volatility that would trigger the UK’s departure from the EU, Brexit does not represent an “imminent risk” to financial stability, according to Single Resolution Board President Elke König.
Banks urged to improve IT systems to cope with crisis
Banks should invest more in IT infrastructure because providing quality data immediately makes all the difference when a bank needs to be resolved in an orderly fashion, the EU's Single Resolution Board has said.
EU auditors blame ECB for not providing evidence
EU auditors censured the European Central Bank on Tuesday (16 January) for refusing to provide “important evidence” needed to assess its key role in the supervision of Europe’s largest banks.