## Euro Area Policies: Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management

_IMF Staff Country Reports, July 19, 2018_

## Source details

**Canonical URL:** [Euro Area Policies: Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management](https://www.imf.org/en/publications/cr/issues/2018/07/19/euro-area-policies-financial-sector-assessment-program-technical-note-bank-resolution-and-46106)

## Other formats

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## Bibliographic details
- Published: July 19, 2018
- Series: IMF Staff Country Reports

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### Executive summary and key findings
- The euro area (EA) bank resolution and crisis management arrangements have been strengthened considerably over recent years, but work remains to complete and unify the regime.
- The adoption of the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR) provide a foundation to deal with problem banks.
- The establishment of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM) provides institutional capacity to manage bank distress and resolution.
- Authorities remain committed to completing the banking union through:
  - the establishment of a backstop for the Single Resolution Fund (SRF), and
  - a European deposit insurance scheme (EDIS),
  and other measures, many of which are in line with recommendations in this report.

### Policy implications and recommendations
- Continue efforts to complete and unify the EA bank resolution and crisis management regime.
- Implement a backstop for the Single Resolution Fund (SRF) to strengthen resolution financing.
- Pursue establishment of a European deposit insurance scheme (EDIS) to further integrate deposit protection across the euro area.
- Maintain alignment of national and EU-level frameworks with the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR).

### Institutional developments and regulatory framework
- Key directives/regulations cited:
  - Bank Recovery and Resolution Directive (BRRD)
  - Single Resolution Mechanism Regulation (SRMR)
- Key institutions cited:
  - Single Supervisory Mechanism (SSM)
  - Single Resolution Mechanism (SRM)
  - Single Resolution Fund (SRF)

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2018/cr18232.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2018/cr18232.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2018/07/19/euro-area-policies-financial-sector-assessment-program-technical-note-bank-resolution-and-46106_