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class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%95%CE%BD%CE%B9%CE%B1%CE%AF%CE%BF%CF%82_%CE%9C%CE%B7%CF%87%CE%B1%CE%BD%CE%B9%CF%83%CE%BC%CF%8C%CF%82_%CE%95%CE%BE%CF%85%CE%B3%CE%AF%CE%B1%CE%BD%CF%83%CE%B7%CF%82" title="Ενιαίος Μηχανισμός Εξυγίανσης – Greek" lang="el" hreflang="el" data-title="Ενιαίος Μηχανισμός Εξυγίανσης" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Mecanismo_%C3%9Anico_de_Resoluci%C3%B3n" title="Mecanismo Único de Resolución – Spanish" lang="es" hreflang="es" data-title="Mecanismo Único de Resolución" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/M%C3%A9canisme_de_r%C3%A9solution_unique" title="Mécanisme de résolution unique – French" lang="fr" hreflang="fr" data-title="Mécanisme de résolution unique" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Single_Resolution_Mechanism" title="Single Resolution Mechanism – Dutch" lang="nl" hreflang="nl" data-title="Single Resolution Mechanism" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Den_felles_kriseh%C3%A5ndteringsmekanisme" title="Den felles krisehåndteringsmekanisme – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Den felles krisehåndteringsmekanisme" data-language-autonym="Norsk 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</div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Resolution procedure of the EU banking union</div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Update plainlinks metadata ambox ambox-content ambox-Update" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/98/Ambox_current_red.svg/42px-Ambox_current_red.svg.png" decoding="async" width="42" height="34" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/98/Ambox_current_red.svg/63px-Ambox_current_red.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/98/Ambox_current_red.svg/84px-Ambox_current_red.svg.png 2x" data-file-width="360" data-file-height="290" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This article needs to be <b>updated</b>.<span class="hide-when-compact"> Please help update this article to reflect recent events or newly available information.</span> <span class="date-container"><i>(<span class="date">January 2023</span>)</i></span></div></td></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox" style="width: 24em;"><caption class="infobox-title">Regulation 806/2014</caption><tbody><tr><td colspan="2" class="infobox-subheader" style="background-color: #ddd; font-weight: bold;"><a href="/wiki/Regulation_(European_Union)" title="Regulation (European Union)">European Union regulation</a></td></tr><tr><td colspan="2" class="infobox-image"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/140px-Flag_of_Europe.svg.png" decoding="async" width="140" height="93" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/210px-Flag_of_Europe.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/280px-Flag_of_Europe.svg.png 2x" data-file-width="810" data-file-height="540" /></span></span></td></tr><tr><th scope="row" class="infobox-label">Title</th><td class="infobox-data">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</td></tr><tr><th scope="row" class="infobox-label">Applicability</th><td class="infobox-data">All EU members. SRM provisions however only apply to Member States participating in the SSM.</td></tr><tr><th scope="row" class="infobox-label">Made by</th><td class="infobox-data"><a href="/wiki/European_Parliament" title="European Parliament">European Parliament</a> and <a href="/wiki/Council_of_the_European_Union" title="Council of the European Union">Council</a>            </td></tr><tr><th scope="row" class="infobox-label">Made under</th><td class="infobox-data"><a href="https://en.wikisource.org/wiki/Consolidated_version_of_the_Treaty_on_the_Functioning_of_the_European_Union/Title_VII:_Common_Rules_on_Competition,_Taxation_and_Approximation_of_Laws#Article_114" class="extiw" title="s:Consolidated version of the Treaty on the Functioning of the European Union/Title VII: Common Rules on Competition, Taxation and Approximation of Laws">Article 114</a> of the <a href="/wiki/Treaty_on_the_Functioning_of_the_European_Union" title="Treaty on the Functioning of the European Union">TFEU</a>.</td></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Official_Journal_of_the_European_Union" title="Official Journal of the European Union">Journal</a> reference</th><td class="infobox-data"><a rel="nofollow" class="external text" href="http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R0806&from=EN"><small>L225, 30.07.2014, p.1</small></a></td></tr><tr><th colspan="2" class="infobox-header" style="background-color: #ccf;">History</th></tr><tr><th scope="row" class="infobox-label">Date made</th><td class="infobox-data">15 July 2014</td></tr><tr><th scope="row" class="infobox-label">Entry into force</th><td class="infobox-data">19 August 2014</td></tr><tr><th scope="row" class="infobox-label">Applies from</th><td class="infobox-data">Applies in its entirety from 1 January 2016, conditional a prior transfer of contributions to the <a href="/wiki/Single_Resolution_Fund" class="mw-redirect" title="Single Resolution Fund">Single Resolution Fund</a> has been met. Otherwise, it will apply in its entirety from the first day of the month following the day where the payment requirement has been met. <ul><li><small>Articles 1-4, 6, 30, 42-48, 49, 50(1)(a)+(b)+ (g) to (p), 50(3), 51, 52(1)+(4), 53(1)+(2), 56-59, 61-66, 80-84, 87-95 and 97-98, apply from 19 August 2014<span style="display: none;"> (<span class="bday dtstart published updated itvstart">2014-08-19</span>)</span>.</small></li> <li><small>Articles 69(5), 70(6)+(7), and 71(3), which empower the Council to adopt implementing acts and the Commission to adopt delegated acts, apply from 1 November 2014<span style="display: none;"> (<span class="bday dtstart published updated itvstart">2014-11-01</span>)</span>.</small></li> <li><small>Article 8+9 and all related provisions elsewhere in the regulation, which empowers the Board to collect information and cooperate with the national resolution authorities for the elaboration of resolution planning, apply from 1 January 2015<span style="display: none;"> (<span class="bday dtstart published updated itvstart">2015-01-01</span>)</span>.</small></li></ul> </td></tr><tr><th colspan="2" class="infobox-header" style="background-color: #ccf;">Other legislation</th></tr><tr><th scope="row" class="infobox-label">Amends</th><td class="infobox-data">Regulation (EU) No 1093/2010</td></tr><tr><td colspan="2" class="infobox-below" style="background-color: #ccffcc; font-weight: bold;">Current legislation</td></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546" /><table class="infobox vevent"><tbody><tr><th colspan="2" class="infobox-above description" style="font-size: 100%; background-color:#ededed">Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund</th></tr><tr><td colspan="2" class="infobox-image" style="border-bottom:1px #aaa solid;padding-top:0.4em;"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Single_Resolution_Fund_members.svg" class="mw-file-description"><img alt="Map of Europe with signatories and other EU members" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Single_Resolution_Fund_members.svg/300px-Single_Resolution_Fund_members.svg.png" decoding="async" width="300" height="316" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Single_Resolution_Fund_members.svg/450px-Single_Resolution_Fund_members.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Single_Resolution_Fund_members.svg/600px-Single_Resolution_Fund_members.svg.png 2x" data-file-width="655" data-file-height="690" /></a></span><div class="infobox-caption" style="padding:0.35em 0.35em 0.25em;line-height:1.25em;"><div style="text-align: left;">Parties to the Single Resolution Fund <style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style><div class="legend"><span class="legend-color mw-no-invert" style="background-color:#0088cc; color:black;-webkit-print-color-adjust: exact; print-color-adjust: exact;"> </span> Within the eurozone</div><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959" /><div class="legend"><span class="legend-color mw-no-invert" style="background-color:#2CA089; color:black;-webkit-print-color-adjust: exact; print-color-adjust: exact;"> </span> Outside the eurozone (applying the treaty)</div><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959" /><div class="legend"><span class="legend-color mw-no-invert" style="background-color:#FFFF00; color:black;-webkit-print-color-adjust: exact; print-color-adjust: exact;"> </span> Outside the eurozone (not applying the treaty)</div><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959" /><div class="legend"><span class="legend-color mw-no-invert" style="background-color:#ffbbbb; color:black;-webkit-print-color-adjust: exact; print-color-adjust: exact;"> </span> Signatories that have not ratified</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959" /><div class="legend"><span class="legend-color mw-no-invert" style="background-color:#ff6666; color:black;-webkit-print-color-adjust: exact; print-color-adjust: exact;"> </span> EU members which may accede to the treaty</div></div></div></td></tr><tr><th scope="row" class="infobox-label">Type</th><td class="infobox-data"><a href="/wiki/Enhanced_cooperation#Related_intergovernmental_treaties" title="Enhanced cooperation">Intergovernmental agreement</a></td></tr><tr><th scope="row" class="infobox-label">Signed</th><td class="infobox-data">21 May 2014<span style="display: none;"> (<span class="bday dtstart published updated itvstart">2014-05-21</span>)</span><sup id="cite_ref-IGASIGN_1-0" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Location</th><td class="infobox-data location"><a href="/wiki/Brussels" title="Brussels">Brussels</a>, <a href="/wiki/Belgium" title="Belgium">Belgium</a></td></tr><tr><th scope="row" class="infobox-label">Effective</th><td class="infobox-data">1 January 2016</td></tr><tr><th scope="row" class="infobox-label">Condition</th><td class="infobox-data">Entry into force on the first day of the second month following the ratification by states representing 90% of the <a href="/wiki/Voting_in_the_Council_of_the_European_Union#Qualified_majority_voting" title="Voting in the Council of the European Union">weighted vote</a> of SSM and SRM participating states; but not before 1 January 2016<sup id="cite_ref-SRF_agreement_2-0" class="reference"><a href="#cite_note-SRF_agreement-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Signatories</th><td class="infobox-data attendee plainlist">26 <a href="/wiki/Member_state_of_the_European_Union" title="Member state of the European Union">EU member states</a> (all except Sweden) including all 20 <a href="/wiki/Eurozone" title="Eurozone">eurozone</a> states<sup id="cite_ref-IGASIGN_1-1" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Ratifiers</th><td class="infobox-data plainlist"><div style="width: 100px;"><span class="nowrap">24 / 26</span><div style="box-sizing: border-box; border: 1px solid #aaa; height: 1.15em; position: relative;"><div style="background-color: #9999FF; color:inherit; width: 92%; height: 100%;"></div></div></div><sup id="cite_ref-depositary_3-0" class="reference"><a href="#cite_note-depositary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </td></tr><tr><th scope="row" class="infobox-label">Depositary</th><td class="infobox-data"><a href="/wiki/General_Secretariat_of_the_Council_of_the_European_Union" title="General Secretariat of the Council of the European Union">General Secretariat of the Council</a>     </td></tr></tbody></table> <p>The <b>Single Resolution Mechanism</b> (<b>SRM</b>) is one of the pillars of the <a href="/wiki/European_Union" title="European Union">European Union</a>'s <a href="/wiki/European_Union_banking_union" class="mw-redirect" title="European Union banking union">banking union</a>. The Single Resolution Mechanism entered into force on 19 August 2014 and is directly responsible for the resolution of the entities and groups directly supervised by the European Central Bank as well as other cross-border groups. The centralised decision making is built around the <a href="/wiki/Single_Resolution_Board" title="Single Resolution Board">Single Resolution Board</a> (SRB) consisting of a chair, a Vice Chair, four permanent members, and the relevant national resolution authorities (those where the bank has its headquarters as well as branches and/or subsidiaries). </p><p>Upon notification from the ECB that a bank is failing or likely to fail, the Board will adopt a resolution scheme including relevant resolution tools and any use of the Single Resolution Fund, established by the SRM Regulation (EU) No 806/2014. The Single Resolution Fund helps to ensure a uniform administrative practice in the financing of resolution within the SRM. </p><p>A Single Resolution Fund (SRF) to finance the restructuring of failing credit institutions was established as an essential part of the SRM by a complementary intergovernmental agreement, after its ratification.<sup id="cite_ref-SRMprop_4-0" class="reference"><a href="#cite_note-SRMprop-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> If it is decided to resolve a bank facing serious difficulties, its resolution will be managed efficiently, at minimum costs to taxpayers and the real economy. In extraordinary circumstances, the Single Resolution Fund (SRF), financed by the banking sector itself, can be accessed. The SRF is established under the control of the SRB. </p><p>The available financial means of the Fund aims to equal at least 1% of the amount of the covered deposits of all credit institutions authorised in all of the Member States participating in the Banking Union. The SRF was built up over eight years, from 2016 until 2023, when it reached the target level of at least 1% of the amount of covered deposits of all the banks operating in the Banking Union. As of 31 December 2024, the SRF amounts to €80 billion, which is above the 1% of covered deposits.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Initial_legislation">Initial legislation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=2" title="Edit section: Initial legislation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The SRM was enacted through a Regulation and an <a href="/wiki/Enhanced_cooperation#Related_intergovernmental_treaties" title="Enhanced cooperation">Intergovernmental Agreement</a> (IGA) which are titled: </p> <ul><li>Regulation of the European Parliament and of the Council 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 Bank Resolution Fund and amending Regulation (EU) No 1093/2010 of the European Parliament and of the Council<sup id="cite_ref-52013PC0520_6-0" class="reference"><a href="#cite_note-52013PC0520-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-SRMR_7-0" class="reference"><a href="#cite_note-SRMR-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup></li> <li>Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund.<sup id="cite_ref-SRF_agreement_2-1" class="reference"><a href="#cite_note-SRF_agreement-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></li></ul> <p>The proposed Regulation was put forward by the <a href="/wiki/European_Commission" title="European Commission">European Commission</a> in July 2013 to complement the first pillar of the banking union, namely <a href="/wiki/European_Banking_Supervision" title="European Banking Supervision">European Banking Supervision</a>.<sup id="cite_ref-SRMprop_4-1" class="reference"><a href="#cite_note-SRMprop-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> The details of some aspects of the functioning of the SRF, including the transfer and mutualisation of funds from national authorities to the centralized fund, was split off from the Regulation into the IGA due to concerns, especially by Germany, that they were incompatible with current EU treaties.<sup id="cite_ref-IGASIGN_1-2" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-active_8-0" class="reference"><a href="#cite_note-active-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-SRMFAQ_9-0" class="reference"><a href="#cite_note-SRMFAQ-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-CSRF_10-0" class="reference"><a href="#cite_note-CSRF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>The European Commission argued that centralizing the resolution mechanism for the participating states will allow for more coordinated and timely decisions to be made on weak banks.<sup id="cite_ref-SRMFAQ_9-1" class="reference"><a href="#cite_note-SRMFAQ-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Internal Market and Services Commissioner <a href="/wiki/Michel_Barnier" title="Michel Barnier">Michel Barnier</a> stated that "by ensuring that supervision and resolution are aligned at a central level, whilst involving all relevant national players, and backed by an appropriate resolution funding arrangement, it will allow bank crises to be managed more effectively in the banking union and contribute to breaking the link between sovereign crises and ailing banks."<sup id="cite_ref-SRMprop_4-2" class="reference"><a href="#cite_note-SRMprop-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Ratings Agencies have stated their approval of the measure and believe it will cause European ratings and credit to rise as it will limit the impact of a bank failure.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> Critics have stated their concerns that this mechanism will result in sovereign states' taxpayers' money being used to pay off other nation's bank failures.<sup id="cite_ref-bbc2_12-0" class="reference"><a href="#cite_note-bbc2-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>The Parliament and the <a href="/wiki/Council_of_the_European_Union" title="Council of the European Union">Council of the European Union</a> reached an agreement on the Regulation on 20 March 2014.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/European_Parliament" title="European Parliament">European Parliament</a> approved the Regulation on 15 April 2014,<sup id="cite_ref-EPSRM_14-0" class="reference"><a href="#cite_note-EPSRM-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> and the Council followed suit on 14 July,<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> leading to its entry into force on 19 August 2014.<sup id="cite_ref-Regulation_806/2014_16-0" class="reference"><a href="#cite_note-Regulation_806/2014-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> The SRM automatically applies to all SSM members, and states which do not participate in the SSM cannot participate in the SRM. </p><p>Some of the provisions of the Regulation were applied from 1 January 2015, but the authority to carry out <a href="/wiki/Bank_resolution" class="mw-redirect" title="Bank resolution">bank resolution</a> did not apply until 1 January 2016, and were subject to the entry into force of the IGA.<sup id="cite_ref-CSRF_10-1" class="reference"><a href="#cite_note-CSRF-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-comprehensive_17-0" class="reference"><a href="#cite_note-comprehensive-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Intergovernmental_agreement">Intergovernmental agreement</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=3" title="Edit section: Intergovernmental agreement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The IGA was signed by 26 <a href="/wiki/EU_member_states" class="mw-redirect" title="EU member states">EU member states</a> (all except Sweden and the United Kingdom, the latter which <a href="/wiki/Brexit" title="Brexit">withdrew</a> from the EU) on 21 May 2014 and is open to accession to any other EU member states.<sup id="cite_ref-IGASIGN_1-3" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-SRMSTATE_18-0" class="reference"><a href="#cite_note-SRMSTATE-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> It was to enter into force on the first day of the second month following the deposit of instruments of ratification by states representing at least 90% of the <a href="/wiki/Voting_in_the_Council_of_the_European_Union#Qualified_majority_voting" title="Voting in the Council of the European Union">weighted vote</a> of SSM and SRM participating states,<sup id="cite_ref-IGASIGN_1-4" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> and was applied from 1 January 2016, since the Regulation had entered into force, but only to SSM and SRM participating states.<sup id="cite_ref-IGASIGN_1-5" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> The IGA states that the intention of the signatories is to incorporate the IGA's provisions into EU structures within 10 years. </p><p>As of 9 February 2023<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Single_Resolution_Mechanism&action=edit">[update]</a></sup>, 24 states, including all eurozone members, have ratified the intergovernmental agreement (IGA).<sup id="cite_ref-depositary_3-1" class="reference"><a href="#cite_note-depositary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> A sufficient number of participating Member States, surpassing the 90% voting share of participating member states required for entry into force, ratified the IGA by 30 November, allowing the SRB to take over full responsibility for bank resolution as planned on 1 January 2016.<sup id="cite_ref-srbfullyop_19-0" class="reference"><a href="#cite_note-srbfullyop-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> The only eurozone states which had not completed their ratification at the time were Greece and Luxembourg.<sup id="cite_ref-luxembourg_20-0" class="reference"><a href="#cite_note-luxembourg-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Greece subsequently did so in December, while Luxembourg followed suit in February 2016. </p><p>The ECB governing council decided on 24 June 2020 to establish a close cooperation agreement with the Bulgarian and Croatian central banks. The close cooperation agreements enter into force on 1 October 2020, at which point SRF agreement will apply to them.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <table class="wikitable sortable" style="text-align:center"> <tbody><tr> <th>Member state </th> <th>QM votes </th> <th>QM weight<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>a<span class="cite-bracket">]</span></a></sup> </th> <th data-sort-type="date">Ratification<sup id="cite_ref-depositary_3-2" class="reference"><a href="#cite_note-depositary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </th></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/23px-Flag_of_France.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/35px-Flag_of_France.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/45px-Flag_of_France.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/France" title="France">France</a> </td> <td>29 </td> <td><span data-sort-value="7001129464285714285♠" style="display:none"></span>12.95% </td> <td>19 June 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/23px-Flag_of_Germany.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/35px-Flag_of_Germany.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/46px-Flag_of_Germany.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Germany" title="Germany">Germany</a> </td> <td>29 </td> <td><span data-sort-value="7001129464285714285♠" style="display:none"></span>12.95% </td> <td>28 October 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/35px-Flag_of_Italy.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/45px-Flag_of_Italy.svg.png 2x" data-file-width="1500" data-file-height="1000" /></span></span> </span><a href="/wiki/Italy" title="Italy">Italy</a> </td> <td>29 </td> <td><span data-sort-value="7001129464285714285♠" style="display:none"></span>12.95% </td> <td>30 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/23px-Flag_of_Poland.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/35px-Flag_of_Poland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/46px-Flag_of_Poland.svg.png 2x" data-file-width="1280" data-file-height="800" /></span></span> </span><a href="/wiki/Poland" title="Poland">Poland</a> </td> <td>27 </td> <td>– </td> <td>– </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/23px-Flag_of_Spain.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/35px-Flag_of_Spain.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/45px-Flag_of_Spain.svg.png 2x" data-file-width="750" data-file-height="500" /></span></span> </span><a href="/wiki/Spain" title="Spain">Spain</a> </td> <td>27 </td> <td><span data-sort-value="7001120535714285714♠" style="display:none"></span>12.05% </td> <td>15 October 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Romania.svg/23px-Flag_of_Romania.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Romania.svg/35px-Flag_of_Romania.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Romania.svg/45px-Flag_of_Romania.svg.png 2x" data-file-width="600" data-file-height="400" /></span></span> </span><a href="/wiki/Romania" title="Romania">Romania</a> </td> <td>14 </td> <td>– </td> <td>2 March 2017 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/23px-Flag_of_the_Netherlands.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/35px-Flag_of_the_Netherlands.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/45px-Flag_of_the_Netherlands.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Netherlands" title="Netherlands">Netherlands</a> </td> <td>13 </td> <td><span data-sort-value="7000580357142857142♠" style="display:none"></span>5.80% </td> <td>11 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/23px-Flag_of_Belgium_%28civil%29.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/35px-Flag_of_Belgium_%28civil%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/45px-Flag_of_Belgium_%28civil%29.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Belgium" title="Belgium">Belgium</a> </td> <td>12 </td> <td><span data-sort-value="7000535714285714285♠" style="display:none"></span>5.36% </td> <td>27 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/23px-Flag_of_the_Czech_Republic.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/35px-Flag_of_the_Czech_Republic.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/45px-Flag_of_the_Czech_Republic.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Czech_Republic" title="Czech Republic">Czech Republic</a> </td> <td>12 </td> <td>– </td> <td>15 February 2021<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/23px-Flag_of_Greece.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/35px-Flag_of_Greece.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/45px-Flag_of_Greece.svg.png 2x" data-file-width="600" data-file-height="400" /></span></span> </span><a href="/wiki/Greece" title="Greece">Greece</a> </td> <td>12 </td> <td><span data-sort-value="7000535714285714285♠" style="display:none"></span>5.36% </td> <td>4 December 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/23px-Flag_of_Hungary.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/35px-Flag_of_Hungary.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/46px-Flag_of_Hungary.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Hungary" title="Hungary">Hungary</a> </td> <td>12 </td> <td>– </td> <td>29 December 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/23px-Flag_of_Portugal.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/35px-Flag_of_Portugal.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/45px-Flag_of_Portugal.svg.png 2x" data-file-width="600" data-file-height="400" /></span></span> </span><a href="/wiki/Portugal" title="Portugal">Portugal</a> </td> <td>12 </td> <td><span data-sort-value="7000535714285714285♠" style="display:none"></span>5.36% </td> <td>23 October 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/23px-Flag_of_Austria.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/35px-Flag_of_Austria.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/45px-Flag_of_Austria.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Austria" title="Austria">Austria</a> </td> <td>10 </td> <td><span data-sort-value="7000446428571428571♠" style="display:none"></span>4.46% </td> <td>17 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Bulgaria.svg/23px-Flag_of_Bulgaria.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Bulgaria.svg/35px-Flag_of_Bulgaria.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Bulgaria.svg/46px-Flag_of_Bulgaria.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Bulgaria" title="Bulgaria">Bulgaria</a> </td> <td>10 </td> <td>– </td> <td>13 December 2018 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/23px-Flag_of_Croatia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/35px-Flag_of_Croatia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/46px-Flag_of_Croatia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Croatia" title="Croatia">Croatia</a> </td> <td>7 </td> <td>– </td> <td>15 September 2020<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/20px-Flag_of_Denmark.svg.png" decoding="async" width="20" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/31px-Flag_of_Denmark.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/40px-Flag_of_Denmark.svg.png 2x" data-file-width="512" data-file-height="387" /></span></span> </span><a href="/wiki/Denmark" title="Denmark">Denmark</a> </td> <td>7 </td> <td>– </td> <td>– </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/23px-Flag_of_Finland.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/35px-Flag_of_Finland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/46px-Flag_of_Finland.svg.png 2x" data-file-width="1800" data-file-height="1100" /></span></span> </span><a href="/wiki/Finland" title="Finland">Finland</a> </td> <td>7 </td> <td><span data-sort-value="7000312500000000000♠" style="display:none"></span>3.13% </td> <td>24 June 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/23px-Flag_of_Ireland.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/35px-Flag_of_Ireland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/46px-Flag_of_Ireland.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Republic_of_Ireland" title="Republic of Ireland">Ireland</a> </td> <td>7 </td> <td><span data-sort-value="7000312500000000000♠" style="display:none"></span>3.13% </td> <td>26 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/23px-Flag_of_Lithuania.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/35px-Flag_of_Lithuania.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/46px-Flag_of_Lithuania.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Lithuania" title="Lithuania">Lithuania</a> </td> <td>7 </td> <td><span data-sort-value="7000312500000000000♠" style="display:none"></span>3.13% </td> <td>25 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/23px-Flag_of_Slovakia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/35px-Flag_of_Slovakia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/45px-Flag_of_Slovakia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Slovakia" title="Slovakia">Slovakia</a> </td> <td>7 </td> <td><span data-sort-value="7000312500000000000♠" style="display:none"></span>3.13% </td> <td>4 February 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Cyprus.svg/23px-Flag_of_Cyprus.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Cyprus.svg/35px-Flag_of_Cyprus.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Cyprus.svg/45px-Flag_of_Cyprus.svg.png 2x" data-file-width="1200" data-file-height="800" /></span></span> </span><a href="/wiki/Cyprus" title="Cyprus">Cyprus</a> </td> <td>4 </td> <td><span data-sort-value="7000178571428571428♠" style="display:none"></span>1.79% </td> <td>14 October 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/23px-Flag_of_Estonia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/35px-Flag_of_Estonia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/46px-Flag_of_Estonia.svg.png 2x" data-file-width="990" data-file-height="630" /></span></span> </span><a href="/wiki/Estonia" title="Estonia">Estonia</a> </td> <td>4 </td> <td><span data-sort-value="7000178571428571428♠" style="display:none"></span>1.79% </td> <td>25 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/23px-Flag_of_Latvia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/35px-Flag_of_Latvia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/46px-Flag_of_Latvia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Latvia" title="Latvia">Latvia</a> </td> <td>4 </td> <td><span data-sort-value="7000178571428571428♠" style="display:none"></span>1.79% </td> <td>4 December 2014 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/23px-Flag_of_Luxembourg.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/35px-Flag_of_Luxembourg.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/46px-Flag_of_Luxembourg.svg.png 2x" data-file-width="512" data-file-height="307" /></span></span> </span><a href="/wiki/Luxembourg" title="Luxembourg">Luxembourg</a> </td> <td>4 </td> <td><span data-sort-value="7000178571428571428♠" style="display:none"></span>1.79% </td> <td>5 February 2016 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/23px-Flag_of_Slovenia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/35px-Flag_of_Slovenia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/46px-Flag_of_Slovenia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Slovenia" title="Slovenia">Slovenia</a> </td> <td>4 </td> <td><span data-sort-value="7000178571428571428♠" style="display:none"></span>1.79% </td> <td>25 November 2015 </td></tr> <tr> <td style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Malta.svg/23px-Flag_of_Malta.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Malta.svg/35px-Flag_of_Malta.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Malta.svg/45px-Flag_of_Malta.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Malta" title="Malta">Malta</a> </td> <td>3 </td> <td><span data-sort-value="7000133928571428571♠" style="display:none"></span>1.34% </td> <td>30 November 2015 </td></tr> <tr> <th style="text-align:left"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/23px-Flag_of_Europe.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/35px-Flag_of_Europe.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/45px-Flag_of_Europe.svg.png 2x" data-file-width="810" data-file-height="540" /></span></span> </span><a href="/wiki/European_Union" title="European Union">European Union</a> </th> <th>313<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>b<span class="cite-bracket">]</span></a></sup> </th> <th><span data-sort-value="7002100000000000000♠" style="display:none"></span>100.00%<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>c<span class="cite-bracket">]</span></a></sup> </th> <th>24 states<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>d<span class="cite-bracket">]</span></a></sup> </th></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width reflist-lower-alpha" style="column-width: close;"> <ol class="references"> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">Of participating states as of entry into force</span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text">224 for participating states as of entry into force</span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">QM weight of ratifying states as of entry into force</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text">Ratifying states</span> </li> </ol></div> <p>An updated <a href="/wiki/Economic_and_Monetary_Union_of_the_European_Union#Second_EMU_reform_plan_(2015-25)" title="Economic and Monetary Union of the European Union">EMU reform plan</a> issued in June 2015 by the five presidents of the council, European Commission, ECB, Eurogroup and European Parliament outlined a roadmap for integrating the Fiscal Compact and Single Resolution Fund agreement into the framework of EU law by June 2017, and the intergovernmental <a href="/wiki/European_Stability_Mechanism" title="European Stability Mechanism">European Stability Mechanism</a> by 2025.<sup id="cite_ref-Completing_the_EMU_30-0" class="reference"><a href="#cite_note-Completing_the_EMU-30"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> Proposals by the <a href="/wiki/European_Commission" title="European Commission">European Commission</a> to incorporate the substance of the Fiscal Compact into EU law and create a <a href="/wiki/European_Monetary_Fund" class="mw-redirect" title="European Monetary Fund">European Monetary Fund</a> to replace the ESM were published in December 2017.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p><p>On 30 November 2020 the finance ministers at the <a href="/wiki/Eurogroup" title="Eurogroup">Eurogroup</a> agreed to amend the IGA and treaty establishing respectively the SRF and ESM.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> The reform proposal was blocked for months because of the veto of the Italian government.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> The ratification of the amendments by Member States is ongoing and, as of December 2023, Italy is the only Eurozone Member State that has not yet ratified the amendments.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> The proposed amendments include:<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p> <ul><li>The establishment of the ESM as a "backstop" to the <a href="/wiki/Single_Resolution_Fund" class="mw-redirect" title="Single Resolution Fund">Single Resolution Fund</a> (SRF), through a revolving credit line.</li> <li>Reform of the ESM Governance</li> <li>Mandatory introduction of single-limb <a href="/wiki/Collective_action_clause" title="Collective action clause">collective action clauses</a> (CACs) in new euro area sovereign bonds issued</li> <li>Changes of eligibility criteria to the precautionary financial assistance instruments</li> <li>Clarifications and expansions of the ESM mandate on economic governance;</li></ul> <p>An amendment to the SRF Agreement (which would establish the ESM as a backstop to the SRF) was signed on 27 January 2021 by Member States, and its ratification is ongoing.<sup id="cite_ref-SRFAmend_38-0" class="reference"><a href="#cite_note-SRFAmend-38"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> As of 10 August 2023, 22 states have ratified the amendment: among the 24 states that have ratified the intergovernmental agreement (IGA) enacting the SRM, only Italy and Czechia have not yet ratified the amendment. </p> <div class="mw-heading mw-heading2"><h2 id="Functioning">Functioning</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=4" title="Edit section: Functioning"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Official_SRB_logo.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Official_SRB_logo.png/220px-Official_SRB_logo.png" decoding="async" width="220" height="96" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Official_SRB_logo.png/330px-Official_SRB_logo.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Official_SRB_logo.png/440px-Official_SRB_logo.png 2x" data-file-width="1359" data-file-height="590" /></a><figcaption>Single Resolution Board logo until 2023</figcaption></figure> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Single_Resolution_Board_Headquarters.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Single_Resolution_Board_Headquarters.jpg/250px-Single_Resolution_Board_Headquarters.jpg" decoding="async" width="250" height="188" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Single_Resolution_Board_Headquarters.jpg/375px-Single_Resolution_Board_Headquarters.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Single_Resolution_Board_Headquarters.jpg/500px-Single_Resolution_Board_Headquarters.jpg 2x" data-file-width="1280" data-file-height="960" /></a><figcaption>Single Resolution Board Headquarters by 2018 in 22 Treurenberg, Brussels</figcaption></figure> <p>The SRM allows for troubled banks operating under the SSM (as well as other cross border groups) to be restructured with a variety of tools including bailout funds from the centralized SRF, valued at at least 1% of covered deposits of all credit institutions authorised in all the participating member states (estimated to be around 55 billion euros), which would be filled with contributions by participating banks during an eight-year establishment phase.<sup id="cite_ref-IGASIGN_1-6" class="reference"><a href="#cite_note-IGASIGN-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-SRMFAQ_9-2" class="reference"><a href="#cite_note-SRMFAQ-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-EPSRM_14-1" class="reference"><a href="#cite_note-EPSRM-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> This would help to alleviate the impact of failing banks on the sovereign debt of individual states.<sup id="cite_ref-SRMprop_4-3" class="reference"><a href="#cite_note-SRMprop-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-active_8-1" class="reference"><a href="#cite_note-active-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-bbc2_12-1" class="reference"><a href="#cite_note-bbc2-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> The SRM also handles the winding down of non-viable banks. The <a href="/wiki/Single_Resolution_Board" title="Single Resolution Board">Single Resolution Board</a> is directly responsible for the resolution of significant banks under ECB supervision, as well as other cross border groups, while national authorities will take the lead in smaller banks.<sup id="cite_ref-SRMFAQ_9-3" class="reference"><a href="#cite_note-SRMFAQ-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>Like the SSM, the SRM Regulation will cover all banks in the eurozone, with other states eligible to join.<sup id="cite_ref-SRMFAQ_9-4" class="reference"><a href="#cite_note-SRMFAQ-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> The text of the Regulation approved by the European Parliament stipulates that all states participating in the SSM, including those non-eurozone states with a "close cooperation" agreement, will automatically be participants in the SRM.<sup id="cite_ref-SRMR_7-1" class="reference"><a href="#cite_note-SRMR-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> As of 2023, this includes all 20 eurozone states, as well as <a href="/wiki/Bulgaria" title="Bulgaria">Bulgaria</a> which has a close cooperation agreement. </p><p>The <a href="/wiki/Single_Resolution_Board" title="Single Resolution Board">Single Resolution Board</a> (SRB) was established in 2014 by Regulation (EU) No 806/2014 on the Single Resolution Mechanism (SRM Regulation) and began work on 1 January 2015. It became fully responsible for resolution on 1 January 2016 and was henceforth the resolution authority for around 143 significant banking groups as well as any cross border banking group established within participating Member States. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=5" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Single_Resolution_Board" title="Single Resolution Board">Single Resolution Board</a></li> <li><a href="/wiki/European_Banking_Supervision" title="European Banking Supervision">European Banking Supervision</a></li> <li><a href="/wiki/European_banking_union" title="European banking union">European banking union</a></li> <li><a href="/wiki/List_of_acronyms_associated_with_the_Eurozone_crisis" class="mw-redirect" title="List of acronyms associated with the Eurozone crisis">List of acronyms associated with the Eurozone crisis</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=6" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626" /><div class="reflist reflist-columns references-column-width" style="column-width: 35em;"> <ol class="references"> <li id="cite_note-IGASIGN-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-IGASIGN_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-IGASIGN_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-IGASIGN_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-IGASIGN_1-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-IGASIGN_1-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-IGASIGN_1-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-IGASIGN_1-6"><sup><i><b>g</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.gr2014.eu/sites/default/files/Member%20states%20sign%20agreement%20on%20bank%20resolution%20fund.pdf">"Member states sign agreement on bank resolution fund"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/European_Commission" title="European Commission">European Commission</a>. 2014-05-21<span class="reference-accessdate">. Retrieved <span class="nowrap">2014-05-30</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Member+states+sign+agreement+on+bank+resolution+fund&rft.pub=European+Commission&rft.date=2014-05-21&rft_id=http%3A%2F%2Fwww.gr2014.eu%2Fsites%2Fdefault%2Ffiles%2FMember%2520states%2520sign%2520agreement%2520on%2520bank%2520resolution%2520fund.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASingle+Resolution+Mechanism" class="Z3988"></span></span> </li> <li id="cite_note-SRF_agreement-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-SRF_agreement_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-SRF_agreement_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://register.consilium.europa.eu/doc/srv?l=EN&f=ST%208457%202014%20INIT">"Agreement on the transfer and mutualisation of contributions to the Single Resolution fund"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/Council_of_the_European_Union" title="Council of the European Union">Council of the European Union</a>. 14 May 2014<span class="reference-accessdate">. Retrieved <span class="nowrap">29 May</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Agreement+on+the+transfer+and+mutualisation+of+contributions+to+the+Single+Resolution+fund&rft.pub=Council+of+the+European+Union&rft.date=2014-05-14&rft_id=http%3A%2F%2Fregister.consilium.europa.eu%2Fdoc%2Fsrv%3Fl%3DEN%26f%3DST%25208457%25202014%2520INIT&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASingle+Resolution+Mechanism" class="Z3988"></span></span> </li> <li id="cite_note-depositary-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-depositary_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-depositary_3-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-depositary_3-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.consilium.europa.eu/en/documents-publications/agreements-conventions/agreement/?aid=2014031">"Agreement details"</a>. <a href="/wiki/Council_of_the_European_Union" title="Council of the European Union">Council of the European Union</a><span class="reference-accessdate">. Retrieved <span class="nowrap">2014-05-30</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Agreement+details&rft.pub=Council+of+the+European+Union&rft_id=http%3A%2F%2Fwww.consilium.europa.eu%2Fen%2Fdocuments-publications%2Fagreements-conventions%2Fagreement%2F%3Faid%3D2014031&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASingle+Resolution+Mechanism" class="Z3988"></span></span> </li> <li id="cite_note-SRMprop-4"><span class="mw-cite-backlink">^ <a href="#cite_ref-SRMprop_4-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-SRMprop_4-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-SRMprop_4-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-SRMprop_4-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://europa.eu/rapid/press-release_IP-13-674_en.htm">"Commission proposes Single Resolution Mechanism for the Banking Union"</a>. <a href="/wiki/European_Commission" title="European Commission">European Commission</a>. 2013-07-10<span class="reference-accessdate">. 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Retrieved <span class="nowrap">2014-06-22</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=European+Parliament+and+Council+back+Commission%27s+proposal+for+a+Single+Resolution+Mechanism%3A+a+major+step+towards+completing+the+banking+union&rft.pub=European+Commission&rft.date=2014-03-20&rft_id=http%3A%2F%2Feuropa.eu%2Frapid%2Fpress-release_STATEMENT-14-119_en.htm%3Flocale%3Den&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASingle+Resolution+Mechanism" class="Z3988"></span></span> </li> <li id="cite_note-EPSRM-14"><span class="mw-cite-backlink">^ <a href="#cite_ref-EPSRM_14-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-EPSRM_14-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://europa.eu/rapid/press-release_STATEMENT-14-119_en.htm?locale=en">"Finalising the Banking Union: European Parliament backs Commission's proposals (Single Resolution Mechanism, Bank Recovery and Resolution Directive, and Deposit Guarantee Schemes Directive)"</a>. <a href="/wiki/European_Commission" title="European Commission">European Commission</a>. 2014-04-15<span class="reference-accessdate">. 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Retrieved <span class="nowrap">2021-05-02</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Agreement+amending+the+Agreement+on+the+transfer+and+mutualisation+of+contributions+to+the+Single+Resolution+Fund&rft.pub=Council+of+the+European+Union&rft_id=https%3A%2F%2Fwww.consilium.europa.eu%2Fen%2Fdocuments-publications%2Ftreaties-agreements%2Fagreement%2F%3Fid%3D2019050%26DocLanguage%3Den&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASingle+Resolution+Mechanism" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Single_Resolution_Mechanism&action=edit&section=7" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://ec.europa.eu/info/business-economy-euro/banking-and-finance/banking-union/single-resolution-mechanism_en">Single Resolution Mechanism</a></li> <li><a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014R0806">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</a></li> <li><a rel="nofollow" class="external text" href="http://srb.europa.eu/">Single Resolution Board</a></li> <li><a rel="nofollow" class="external text" href="http://europa.eu/rapid/press-release_MEMO-17-1792_en.htm/">European Commission - Fact Sheet: State aid: How the EU rules apply to banks with a capital shortfall</a></li></ul>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?useformat=desktop&type=1x1&usesul3=0" alt="" width="1" height="1" style="border: none; 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