SRB Publishes annual report

Posted on July 9, 2023 by Editor

The Single Resolution Board (SRB) has released its Annual Report for 2022, providing insights into its work in enhancing the stability of Europe’s banking sector and ensuring the resolvability of SRB banks. Despite geopolitical challenges, the SRB reports it made significant strides in resolution planning, crisis readiness, and fostering international cooperation.

Among many other actions, the report includes a breakdown of the SRB’s progress on digitalisation and the utilisation of digital data. Notably, the development of platforms such as FORA, the Reference Data Factory, and the Data Certification Gateway empowered the SRB to streamline crisis procedures, manage master data, and ensure data quality. Additionally, the deployment of the Investment Analytic Database and the Administrative contribution application enabled advanced data analytics and enhanced data collection and validation processes. These digital initiatives propel the SRB’s data-driven approach and reinforce its mission of facilitating a stable banking sector.

In terms of data collection and management, the SRB deployed the second release of Data Certification Gateway, the internal platform ensuring quality of the data managed inside the agency, and started the development of the third release to support the 2023 data collection cycle. In 2022, the SRB also managed the 2022 SRF data collection cycle for bank contributions and started preparing the portal for the collection of 2023 data, the first one to be completed in XBRL-XML only.

The SRB’s Annual Report showcases the progress made in enhancing the resolvability of Europe’s banking sector. Through rigorous resolution planning, crisis preparedness, and strategic collaboration, the SRB continues its mission to plan to deal effectively with any troubled banks, with aim of ensuring stability and protecting taxpayers.

Read the report here.

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