- Funding Programme
- Year
- 2023
Technical Support for National Handbooks for Spain and Slovakia
The European Commission supported the National Resolution Authority in Spain and Slovakia with the preparation of their National Handbook. For Spain in particular, the European Commission supported the Spanish National Resolution Authority (FROB) with the preparation of the operationalization of two resolution tools within the National Handbook: Bridge Institution and Asset Separation Tool.
Context
The Single Resolution Board (“SRB”) as part of its priorities to enhance Member States’ crisis preparedness provided a “Common Index” with the minimum contents of a National Handbook as best practice for the preparation, adoption and implementation of resolution actions for financial institutions. To adapt to the Common Index provided by the SRB and to the requirements of the EU legislation for Bank Recovery and Resolution, Spain and Slovakian National Resolution Authorities need to further develop their internal processes and procedures. The project will support the development of a National Handbook for an effective implementation of the banking crisis management and deposit insurance framework and therefore contribute to the Banking Union.
Support delivered
The support will consist of
- Mapping the applicable EU and national legal framework, the resolution processes and procedures and the roles and responsibilities of EU and national actors.
- Drafting the National Handbook in compliance with the Common Index provided by the SRB including all the associated documents and templates for a timely operationalisation of the resolution tools.
- Organising capacity building workshops.
Results achieved
The National Handbook and capacity building exercises will enhance the national resolution authorities’ knowledge, capacity and preparedness to deal effectively with potential failing financial institutions. Effective application of the recovery and resolution framework will contribute to the countries’ financial stability and better protection of public funds.
More about the project
You can read the documents related to the project here: