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Gabriela Isabell Reinstädtler - Die Europäisierung der Einlagensicherung im Kontext der Europäischen Bankenunion

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Gabriela Isabell Reinstädtler

Die Europäisierung der Einlagensicherung im Kontext der Europäischen Bankenunion

Series: Wettbewerb und Regulierung von Märkten und Unternehmen

Volume 49 2022

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Der Einheitliche Abwicklungsmechanismus (SRM) S. 111-140

„… und Abs. 4 SRM-VO; Art. 42 Abs. 1 SRM-Rahmenbeschluss; § 3 Abs. 1 RStruktFG; RÜMKER, DIETRICH …” „… den letzten drei Sätzen ErwG 73 SRM-VO; ErwG 5 BRRD; RIEHLE, GERHARD (Eurokrise 2016), S. 228 …” „… einheitlichen Abwicklungsfonds“ (SRM-VO), die am 19. August 2014 in Kraft trat und zum 1. Januar 2016 volle …”

Einleitung S. 35-42

„… Bankenunion, der Einheitliche Abwicklungsmechanismus (SRM), thematisiert. Hierzu werden in Kapitel 4.1. die …” „… Grundzüge und Zielsetzungen des SRM sowie dessen Rechtsgrundlagen und sein Geltungsbereich aufgezeigt …” „… . Anschließend erfolgt in Kapitel 4.2. eine Erläuterung des institutionellen Aufbaus des SRM und der …”

Titelei/Inhaltsverzeichnis S. 1-34

„… Single Resolution Mechanism SRM-VO Single Resolution Mechanism Verordnung SSM Single Supervisory …” „… Abwicklungsverfahren (gemäß Art. 18 SRM-VO) 465 Anlage 4: Die Inhaltsübersicht der DGSD 466 Anlage 5: Der Übergang …” „… nationale Einlagensicherung 110 4. Der Einheitliche Abwicklungsmechanismus (SRM) 111 4.1. Die Zielsetzung …”

Zusammenfassende Schlussbetrachtung S. 457-462

„… der Einheitliche Abwicklungsmechanismus (SRM) –, die miteinander verflochten sind und auch Bezüge zum …” „… diesem Zusammenhang überblicksartig erläutert. Während der SSM seit dem Jahr 2014 und der SRM seit dem …” „… des SRM mittlerweile erfolgt ist, konnten bereits bei diesen beiden Projekten der postulierte …”

Anhang S. 463-470

„… Ermessensentscheidungen kein öffentliches Interesse Anlage 3: Das Abwicklungsverfahren (gemäß Art. 18 SRM-VO)1981 …” „… ; BLAß, ROBIN (Abwicklung 2019), S. 293; BLAß, ROBIN (SRM 2021), S. 180; ähnlich hierzu auch HENZE …”

Die Einlagensicherung S. 141-456

„… Abwicklungsmechanismus (SRM) ein frühzeitiges Eingreifen notwendig, dürfen die verfügbaren Finanzmittel für keine …”

Die Schaffung einer Europäischen Bankenunion S. 43-92

Literaturverzeichnis S. 471-564

„… , https://www.bundesfinanzministerium.de/Content/DE/FAQ/2014-01- 22-srm-faq.html, abgerufen am 14. Juli 2021. Literaturverzeichnis 483 BMF (Finanzkrise …” „… , MARKUS (Abwicklungsbehörden 2020): § 14 Institutioneller Rahmen: SRM, SRB und nationale …” „… . von LUDWIG GRAMLICH u. a., Wiesbaden 2020, S. 389–390. Literaturverzeichnis 481 BLAß, ROBIN (SRM …”

doi.org/10.5771/9783748928935

Lukas Zöllner - Die Abwicklung von Banken nach Art. 18 SRM-VO

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Lukas Zöllner

Die Abwicklung von Banken nach Art. 18 SRM-VO

Series: Nomos Universitätsschriften - Recht

Volume 1008 2023

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Vierter Teil – Die Abwicklung nach der SRM‑VO S. 194-264

„… , im Folgenden „SRM‑VO-E“.697 Art. 16 Abs. 2 und 6 SRM‑VO-E.A. Die Einleitung des Abwicklungsverfahrens …” „… Vierter Teil – Die Abwicklung nach der SRM‑VONachdem nunmehr die ökonomischen Zusammenhänge einer …” „… Bankenkrise, die in der SRM‑VO positivierten legislatorischen Ziele und die daraus im Sinne einer effektiven …”

Zweiter Teil – Annäherung an den Untersuchungsgegenstand S. 28-111

„… SRM‑VO; näher Haentjens, in: Binder/Gortsos/Lackhoff/Ohler, Art. 8 SRMR, Rn. 4.A. Der Rechtsrahmen des …” „… . 26 SRM‑VO bei Binder, in: Binder/Gortsos/Lackhoff/Ohler, Art. 26 SRMR, Rn. 6ff.86 Vgl. zur …” „… .139Aufgabenteilung im SRMArt. 7 SRM‑VO sieht eine Aufgabenteilung zwischen dem SRB und den NRAs vor …”

Fünfter Teil – Schlussbetrachtung und Zusammenfassung in Thesen S. 265-268

„… Abwicklungsverfahren nach Art. 18 SRM‑VO an einigen Mängeln leidet. Aus den Wirkungszusammenhängen von Bankenkrisen …” „… Anforderungen hält das Verfahren nach Art. 18 SRM‑VO in großen Teilen nicht ein. Möglicherweise ist dies der …” „… Grund, warum in den ersten Jahren nach Inkrafttreten der SRM‑VO kaum von ihr Gebrauch gemacht wurde. Die …”

Titelei/Inhaltsverzeichnis S. 1-18

„… . 2 SRM‑VOI. 262Selbsteintrittsrecht nach Art. 29 Abs. 2 SRM‑VOII. 262BewertungIII. 263 …” „… Recht 1008Die Abwicklung von Banken nach Art. 18 SRM-VOLukas …” „… SRM-VOOnlineversionNomos eLibraryDie Deutsche Nationalbibliothek verzeichnet diese Publikation inder Deutschen …”

Erster Teil – Einführung S. 19-27

„… , ein Bankenabwicklungsrecht einzuführen. Darauf aufbauend sieht die SRM‑VO2 einen „Einheitlichen …” „… Abwicklungsverfahrens des Art. 18 SRM‑VO, das den Untersuchungsgegenstand der vorliegenden Arbeit bildet, detailliert …” „… insbesondere eine Änderungsverordnung zur SRM‑VO (Verordnung (EU) 2019/877 des Europäischen Parlaments und des …”

Dritter Teil – Ziele und Gelingensbedingungen der Bankenabwicklung S. 112-193

„… SRM‑VO positiviert worden (II.).Das Abwicklungsrecht als Sonderinsolvenzrecht für BankenDas …” „… Gesetzgeber hat diese Ziele der Bankenabwicklung in Art. 31 BRRD und in Art. 14 SRM‑VO in Gesetzesform …” „… gegossen. In dieser Untersuchung soll es nur um das Abwicklungsverfahren nach der SRM‑VO gehen, sodass Art …”

Literaturverzeichnis S. 269-284

„… , Leonhard/Leunert, Steven, Sanierung und Abwicklung von Banken nach SAG und SRM‑VO, ZIP 2015, 2259–2265.Huertas …” „… , § 14 Institutioneller Rahmen: SRM, SRB und nationale Abwicklungsbehörden, in: Jens-Hinrich Binder …” „… Financing of Resolution within the SRM Framework, in: Danny Busch, Guido Ferrarini (Hrsg.), European …”

doi.org/10.5771/9783748936237

Ulrich Hufeld, Christoph Ohler - Europäische Wirtschafts- und Währungsunion

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Ulrich Hufeld (ed.), Christoph Ohler (ed.)

Europäische Wirtschafts- und Währungsunion

Series: Enzyklopädie Europarecht

Volume 2022

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Tobias Tröger, Alexander Friedrich § 18 Der Einheitliche Abwicklungsmechanismus (Single Resolution Mechanism, SRM) S. 847-900

„… von Banken nach SAG und SRM‑VO, ZIP 2015, 2259; Huertas, Thomas, The Case for Bail-ins, in: Dombret …” „… vor dem Beschwerdeausschuss nach Art. 85 SRM‑VO – Teil I, WM 2017, 1041; ders., Europäisches …” „… Bankenabwicklungsrecht: Das Verfahren vor dem Beschwerdeausschuss nach Art. 85 SRM‑VO – Teil II, WM 2017, 1085 …”

Alexander Thiele § 16 Die Europäische Bankenunion S. 755-786

„… . . . . . . . . . . . . . . . . . . . . . . . . . . 30 II. Der Single Resolution Mechanism (SRM …” „… Tätigkeit auf. Im Jahr 2015 trat mit dem Single Resolution Mechanism (SRM) ein europäischer …” „… angestrebte Errichtung eines einheitlichen Abwicklungsmechanismus (Single Resolution Mechanism, SRM …”

Titelei/Inhaltsverzeichnis S. 1-42

„… der BRRD und SRM‑Verordnung ...............II. 749 Ausblick: Zentralisierung von ELA …” „… einer Bankenabwicklung nach Art. 11 Abs. 2 DGSD iVm Art. 109 BRRD/Art. 79 SRM‑VO, § 145 SAG …” „… Einheitliche Abwicklungsmechanismus (Single Resolution Mechanism, SRM) (Tröger/Friedrich …”

Christian Heidfeld, Julian Langner § 15 Emergency Liquidity Assistance S. 733-752

„… nach der BRRD und SRM‑Verordnung . . . . . . . . . . . . . . . . . . 37 C. Ausblick: Zentralisierung …” „… Abwicklung nach der BRRD und SRM‑Verordnung Da die Finanzierung der Abwicklung von Kreditinstituten eine …” „… die Abwicklung nach der Abwicklungsrichtlinie (BRRD)111 und der SRM‑Verordnung112 ist zu beachten …”

Ulrich Hufeld § 2 Europäische Wirtschafts- und Währungsunion: Das System S. 71-180

„… SRM‑VO verweist auf Art. 2 Nr. 1 SSM‑VO. Single Resolution Mechanism SRM: VO (EU) Nr. 806/2014 des …”

Karl-Philipp Wojcik § 19 Einlagensicherung S. 901-948

„… Einlagensicherungssystem im Rahmen einer Bankenabwicklung nach Art. 11 Abs. 2 DGSD iVm Art. 109 BRRD/Art. 79 SRM‑VO, § 145 …” „… Anwendungsbereiches der VO 806/2014 (SRM‑VO) und innerhalb ihres Aufgabenkreises ist der Single resolution Board (SRB …” „… . iVm Art. 70 SRM‑VO).141 Die Beiträge zu den Abwicklungsfonds dürfen jedoch für die Erreichung der …”

Ann-Katrin Kaufhold § 17 Der einheitliche Aufsichtsmechanismus für Banken (SSM) S. 787-846

„… sowie zur Änderung der Verordnung (EU) Nr. 1093/2010, ABl. L 225 vom 30.07.2014, 1 (SRM‑VO). Verordnung …” „… ; Forsthoff EuZW 2019, 977 (980). 23 VO (EU) Nr. 806/2014 (SRM‑VO). 24 RL 2014/49/EU (Deposit Guarentee Scheme …” „… werden, s. Art. 76 Abs. 3 SRM‑VO. 61 S. Erwgr. 30 zur SSM‑VO; vgl. ferner Erwgr. 2, 3, 11 zur SSM‑VO …”

Allgemeines Literaturverzeichnis S. 1149-1196

„… . – Sicherheiten 15 9, 10, 24 f., 31 – Solvenz 15 26 f. – SRM-Verordnung 15 38 – Staatsgarantie 15 28 …” „… . Einheitlicher Abwicklungsmechanismus (SRM) 18 2 f. – Zuständigkeit 18 41 ff. Einheitlicher …” „… 21 68 Einheitlicher Restrukturierungsmechanismus (SRM) 6 98 ff. Einlagensicherung 16 12 f., 18 13 …”

Hannes Rathke § 14 Der Europäische Stabilitätsmechanismus – Stabilitätshilfeverfahren S. 655-732

Armin Steinbach § 6 Marktwirtschaft und Systementscheidungen im Recht der WWU S. 297-346

Ulrich Forsthoff § 13 Der Europäische Stabilitätsmechanismus – Institutionelles und modus operandi S. 633-654

„… Resolution Mechanism“, SRM) ist durch die VO (EU) 806/2014 etabliert und ist konstituiert durch den …”

Christoph Ohler § 3 Gemeinwohlfunktionen der Wirtschafts- und Währungsunion S. 183-216

„… SSM und der SRM geschaffen wurden, maßgeblich auf große und damit meist systemisch relevante Banken ab …”

Christian Seiler § 21 Das Mandat des Europäischen Systems der Zentralbanken S. 1003-1042

Thomas Eger, Hans-Jürgen Wagener § 5 Ökomische Herausforderungen einer unvollständigen Währungsunion S. 239-296

doi.org/10.5771/9783748900245

Ulrich Haltern - Völkerrecht statt Verordnungsrecht

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Ulrich Haltern

Völkerrecht statt Verordnungsrecht

Series: Schriften zum Öffentlichen Wirtschaftsrecht

Volume 7 2016

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H. SRM/IGA-Konstruktion als An-/Aus-Schalter? S. 87

„… SRM/IGA-Konstruktion als An-/Aus-Schalter? Schließlich ist das Argument denkbar, dass das …” „… Zusammenspiel von SRM‑Verordnung und IGA als Ein-/Aus-Schalter konzipiert ist, der mit dem Umschlagen der …”

A. Hintergrund, Gutachtenauftrag, Prüfprogramm S. 17-22

„… Verordnung (SRM‑Verordnung)4 etabliert. Dieser schafft einen gemeinsamen institutionellen Rahmen für die …” „… ansässigen Banken und Institute einzahlen. Zudem errichtet die SRM‑Verordnung ein einheitliches …” „… , Prüfprogramm 18 4 SRM‑Verordnung Während der Kommissionsvorschlag zur SRM‑Verordnung vom 10.07.2013 noch einen …”

J. Abschließende Überlegungen zum Kontext der unionsrechtlichen Bindungen S. 88-100

„… SRM‑Verordnung mit ausgehandelt, und bestimmenden Einfluss sowohl auf die organisatorische SRM/IGA-Konstruktion …” „… gegeben, an der Rechtmäßigkeit der SRM/IGA-Konstruktion zu zweifeln. Dogmatische Überlegungen besitzen …” „… SRM/IGA-Konstruktion hindeutet. Während die Einzelheiten der konkreten Ausgestaltung des IGA hier nicht geprüft werden …”

G. Vertragswidriger Übergriff durch Art. 9 IGA? S. 85-86

„… Abwicklungskonzepts nach Art. 18 SRM‑Verordnung; die Beschlussfassungsregeln des Ausschusses nach Art. 52 und 55 …” „… SRM‑Verordnung; die Abwicklungsgrundsätze nach Art. 15 SRM‑Verordnung; und die in Art. 22 Abs. 2 SRM‑Verordnung …” „… , damit das SRM/IGA-Konstrukt funktioniert, und dass die Vertragsparteien auch die wichtigsten Normen …”

E. Verstoß gegen das Demokratieprinzip? S. 64-79

„… unionsrechtlichen Regeln von SRM‑Verordnung und BRRD-Richtlinie quer zum unionsrechtlichen Demokratieprinzip, Art …” „… SRM/IGA-Konstrukt ersonnen und im ordentlichen Gesetzgebungsverfahren angenommen hat. Wieder sind es nicht die in …” „… undemokratisches Völkerrecht? Lässt man den Ausgangsbefund, dass das SRM/IGA-Konstrukt Ergebnis der unionseigenen …”

B. Verstoß gegen die Kompetenzordnung der Union? S. 23-53

„… der SRM/IGA-Konstruktion nimmt es zudem teil an Art. 6 Abs. 6 SRM‑Verordnung: „Beschlüsse oder …” „… SRM‑Verordnung hätte sein können. Auch die Übertragung der Beiträge auf den einheitlichen Abwicklungsfonds und …” „… ungeachtet bleiben die teilnehmenden Mitgliedstaaten, die gemäß der BRRD-Richtlinie und der SRM‑Verordnung …”

D. Verstoß gegen den Grundsatz der loyalen Zusammenarbeit? S. 61-63

„… – die SRM‑Verordnung in der heutigen Form – entwickelt selbst das SRM/IGA-Konstrukt. Das IGA ist in der …” „… einer widersprechenden oder anderslautenden Gesetzgebung in die Parade. Vielmehr hat sich die SRM/IGA …” „… SRM‑Verordnung nicht nur autorisiert, sondern mandatiert. Die Verknüpfung der beiden Instrumente – Verordnung und …”

C. Verstoß gegen den Vorrang der Verstärkten Zusammenarbeit? S. 54-60

„… und das Parlament mit großer Mehrheit für die SRM/IGA-Konstruktion gestimmt. Anders als in überhaupt …” „… . 3, Art. 3 Abs. 1 Nr. 36, Art. 4 Abs. 3, Art. 67 und Art. 77 SRM‑Verordnung), dennoch in den Bereich …” „… im Hinblick auf die SRM/IGA-Konstruktion auch deshalb fehl, weil die Union ja gerade den ersten …”

Literaturverzeichnis S. 103-106

„… . Ergänzungslieferung, München 2014. Hufeld, Ulrich, Stellungnahme zur Zweiteilung des SRM-Rechts: EU-Verordnung …” „… , https://www.gruenebundestag.de/fileadmin/media/gruenebundestag_de/themen_az/europaeische_union/PDF/SRM-Gutachten_final.pdf, 2014. Herzog, Roman/Grzeszick, Bernd, Art. 20 GG, in: Maunz/Dürig, GG-Kommentar, 71 …” „… “ (SRM), http://www.sven-giegold.de/wp-content/uploads/2013/07/130710-Gu tachten-SRM-Ren%C3%A9-Repasi.pdf …”

Zusammenfassung S. 15-16

„… der SRM‑Verordnung selbst geregelt werden. Ein Verstoß gegen die Kompetenzordnung der Union liegt …” „… Zusammenarbeit kann im Fall der SRM/IGA-Konstruktion weder eine Stillhalteverpflichtung hervorbringen noch zu …” „… SRM/IGA-Konstruktion vom Unionsgesetzgeber, der im ordentlichen Gesetzgebungsverfahren darüber entschieden hat …”

Titelei/Inhaltsverzeichnis S. 1-14

„… in einem völkerrechtlichen Übereinkommen (IGA) statt in der SRM-Verordnung Schriften zum Öffentlichen …” „… in der SRM-Verordnung Nomos BUT_Haltern_3000-1.indd 3 16.02.16 11:58 Die Deutsche …” „… . 85 SRM/IGA-Konstruktion als An-/Aus-Schalter?H. 87 Abschließende Überlegungen zum Kontext der …”

F. Unzulässigkeit kollektiver Koordinierung? S. 80-84

„… der integrationspolitischen Einpassung des IGA in die SRM-Abläufe, wenn Ausschuss und EuGH wichtige …” „… , nicht von ränkevollen Mitgliedstaaten, beschlossen. Die SRM‑Verordnung selbst sieht die …”

Gesamtergebnis S. 101-102

„… einem völkerrechtlichen Abkommen (IGA) und nicht in der SRM‑Verordnung selbst wird nicht gegen …”

doi.org/10.5771/9783845273839

Jens-Hinrich Binder, Christos V. Gortsos, Klaus Lackhoff, Christoph Ohler - European Banking Union

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Jens-Hinrich Binder (ed.), Christos V. Gortsos (ed.), Klaus Lackhoff (ed.), Christoph Ohler (ed.)

European Banking Union

2022

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Art. 31 SRMR Cooperation within the SRM Christos Hadjiemmanuil S. 895-918

„… .29 Art. 31(1)(2)(d) SRMR.Cooperation within the SRM Art. 31 SRMRChristos Hadjiemmanuil 89967(e) It …” „… session; Art. 50(1)(c) SRMR.Cooperation within the SRM Art. 31 SRMRChristos Hadjiemmanuil 909282930The …” „… Art. 7(4)(a) SRMR.69 Art. 5a(3) COFRA.Cooperation within the SRM Art. 31 SRMRChristos Hadjiemmanuil …”

Art. 30 SRMR Obligation to cooperate and information exchange within the SRM Christos Hadjiemmanuil S. 881-895

„… . 27 Draft SRMR.Obligation to cooperate and information exchange within the SRM Art. 30 SRMRChristos …” „… within the SRM Art. 30 SRMRChristos Hadjiemmanuil 881the performance of their respective tasks under …” „… . Memorandum of understanding on SRM-SSM cooperation . . . . . . . . . . . . . . . . . 19E. SRB cooperation …”

Art. 7 SRMR Division of tasks within the SRMThe views expressed by the author are strictly personal and do not engage the Single Resolution Board or the European Commission or its services in any way.... S. 506-518

„… theCouncil in the process laid down in Art. 18(6) SRMR.Art. 7 SRMRDivision of tasks within the SRM11. The …” „… within the SRM Art. 7 SRMRKarl-Philipp Wojcik 51750515253545556Art. 8 SRMRResolution plans drawn up by …” „… ofthis Article.Division of tasks within the SRM Art. 7 SRMRKarl-Philipp Wojcik 5075. Notwithstanding …”

Art. 4 SRMR Participating Member States Christoph Ohler S. 479-483

„… and the SRM.This objective forms an appropriate reason to restrict the participating Member States …” „… onthe SRM. As regards the entities in the meaning of Art. 2 SRMR that are established inthe Member State …” „… . Recital 12 SRMR.12 Binder, ‘Participation of non-euro area Member States in the SRM: centralised …”

Art. 1 SRMR Subject matter Jens-Hinrich Binder S. 453-461

„… SRMRJens-Hinrich Binder 45545has been identified as one of the key policy concerns to be addressed by the SRM.10 …” „… core elements of the SRM as defined in Art. 1 SRMRI. ‘Uniform rules and a uniform procedure’: SRMR and …” „… BRRDWith the ‘uniform rules and a uniform procedure’ referred to in Art. 1(1) SRMR,core elements of the SRM …”

Art. 46 SRMR National parliaments Fabian Amtenbrink S. 965-968

„… Statesparticipating in the SRM, which currently can be found in Arts. 45(2) and 46(2) SRMR.It should be noted that the …” „… SRM. In the preamble to Coun-cil Regulation (EU) No 806/2014 (SRMR)2 the role in the accountability …” „… Abwick-lungsmechanismus (Single Resolution Mechanism, SRM)’, in: Ulrich Hufeld and Christoph Ohler (ed),Europäisches …”

Art. 94 SRMR Review Christos V. Gortsos S. 1209-1219

„… , and on the other hand between the SRM,NRAs, as well as competent authorities and resolution …” „… Report notes that the common backstop to the Board for the SRF is essentialto enhance the SRM’s …” „… accedingMember State to participate in the SRM.IV. ConclusionIn its concluding Section,38 the Report makes the …”

Art. 32 SRMR Consultation of, and cooperation with, non-participating Member States and third countries Georgios PsaroudakisConsultation of, and cooperation with, non-participating Member States S. 918-921

„… ” functioning of the SRM233).Art. 32 SRMRConsultation of, and cooperation with, non-participatingMember States …” „… constituted resolution colleges.228The specificities of the SRM, however, render these provisions unsuitable …” „… for intra-SRM cooperation. For groups operating exclusively within the BU, the exercise of reso-lution …”

Art. 47 SRMR Independence Fabian Amtenbrink S. 968-973

„… independent single resolution authority (SRA) should be at the centre of the SRM”,referring to the need for …” „… , → SSMR Art. 19).15 Art. 56(5) SRMR.Independence Art. 47 SRMRFabian Amtenbrink 9715678representative not …” „… accountability vis-à-vis national parliaments, as be-comes also clear from the wording of Art. 46(4) SRMR.Finally …”

Art. 45 SRMR Accountability Fabian Amtenbrink S. 955-965

„… Board for theimplementation of the SRM Regulation (Art. 45(1) SRMR)The first paragraph of Art. 45 SRMR …” „… (SRB) as a Union agency in conductingSRM-related tasks, provided for in Art. 47 SRMR.2 As has been …” „… SRMRFabian Amtenbrink 95712Similar to what can be observed for the SSMR, while participation in the SRM …”

Art. 77 SRMR Use of the Fund Georgios Psaroudakis S. 1136-1140

„… (Oxford University Press, Oxford 2015), 56; Christos V. Gortsos, The Single ResolutionMechanism (SRM) and …” „… byArt. 114 TFEU as much the rest of the SRM.6 Moreover, the transfer of pre-existing fi-nancial means …” „… SRM. It does not raise any issue of budgetary sovereign-ty of Member States, as these national funding …”

Art. 6 SRMR General Principles Jens-Hinrich Binder S. 497-506

„… . 590–592. And cf. Recital 2, sent. 4 and5 SRMR: “In the absence of the SRM, bank crises in Member States …” „… resolution authority (cf. Art. 88BRRD). Within the SRM, this function is allocated to the SRB (Art. 5(1) SRMR …” „… . 6(4) SRMR.Taken together, the relevant actors, by virtue of Art. 6(2), (3)(a), (b) and (4) SRMRand the …”

Art. 5 SRMR Relation to Directive 2014/59/EU and applicable national law Jens-Hinrich Binder S. 483-497

„… framework.II. The SRM within the European System of Financial Supervision(Art. 5(2) SRMR)Pursuant to Art …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10I. SRB to assume the functions of NRAs under the BRRD (Art. 5(1) SRMR) . . 10II. The SRM within the …” „… within the SRM”). Art. 5 SRMR, by contrast, ad-dresses the interplay between the Regulation, the BRRD and …”

Art. 57 SRMR Resources Andreas Witte S. 1016-1023

„… , as the wording of Art. 57(1) SRMR makes clear, those of the Board. This reflects theset-up of the SRM …” „… Commission and the national resolution authorities (Art. 1(2)SRMR); the SRM as a whole, however, does not …” „… anchored, specifically for the SRM, in Arts. 30 and 31 SRMR. With the rank of primarylaw it is stipulated …”

Art. 93 SRMR Exercise of the delegation Christos V. Gortsos S. 1206-1209

„… : https://ec.europa.eu/info/sites/default/files/business_economy_euro/banking_and_finance/documents/srm-regulation-level-2-measures-full_en.pdf.13 OJ L 11, 17.1.2015, pp. 44-64.14 Art. 93(3) SRMR.15 Art. 93(4) SRMR …” „… : .17 Art. 92(7)(1) SRMR.18 Art. 92(7)(2) SRMR.Art. 93 SRMR Exercise of the delegation1206 Christos …” „… V. GortsosA. The power conferred on the Commission to adopt delegated acts(Art. 93(1) SRMR)In …”

Art. 48 SRMR Seat Janina Heinz S. 973-975

„… resolution authority within the SRM, must be viewed as problematic.II. Duties of the Chair, Vice-Chair and …” „… the full-time members of theSingle Resolution Board upon leaving the service (Art. 47(4) SRMR)Art …” „… .25Art. 48 SRMRSeatThe Board shall have its seat in Brussels, Belgium.Bibliography Paul Craig, EU …”

Art. 62 SRMR Internal audit and control Andreas Witte S. 1047-1054

„… the draft submit-ted by the Chair (Art. 61(2) SRMR).Art. 62 SRMRInternal audit and control1. An …” „… provision of Art. 32 of the SRB-FR, whichallows for amending budgets, is not incompatible with the SRM …” „… properly monitor the performance of functions within the SRM.1 The existence of such a charter is also …”

Art. 39 SRMR Periodic penalty payments Chryssa Papathanassiou S. 946-947

„… review mechanism in the SRM:The SRM Appeal Panel’ in: Chiara Zilioli, Karl-Philipp Wojcik (eds), Judicial …” „… Lamandini, David Ramos Munoz, ‘Administrative pre-litigation review mechanism in theSRM: The SRM Appeal …” „… payments are imposed for up to sixmonths from the notification of the SRB’s decision (Art. 39(4) SRMR).Art …”

Art. 38 SRMR Fines Chryssa Papathanassiou S. 941-946

„… Lamandini, David Ramos Munoz, Administrative pre-litigation review mechanism in the SRM:The SRM Appeal Panel …” „… , ‘Administrative pre-litigation review mechanism in theSRM: The SRM Appeal Panel’ in: Chiara Zilioli, Karl-Philipp …” „… infringement andthe financial profit or losses avoided from the breach can be determined. (Art. 38(7)SRMR).B …”

Art. 18 SRMR Resolution procedureThe information and views set out in this publication are those of the author and do not necessarily reflect the official opinion of the Commission. The Commission doe... S. 666-690

„… (EU) No 806/2014 (SRMR) establishes the framework of the SRM. It setsout uniform rules – which …” „… thecase for the SRM.The Commission proposed to use Art. 114 TFEU. The objective was to establish …” „… 14-17 SRMR.Resolution procedure Art. 18 SRMREmiliano Tornese 6731516171819responsibility of the SSM …”

Art. 19 SRMR State aid and Fund aid Seraina Neva Grünewald and Christos V. Gortsos S. 690-699

„… . 108(3) TFEU – also within the SRM. Art. 19(2) SRMR clarifies that it is theMember State, or the Member …” „… preparing the draft delegated act (see Recital (115) SRMR).Art. 20 SRMRValuation for the purposes of …” „… underresolution on the ground that the public interest criterion is not fulfilled, the SRM re-quires under Art …”

Art. 67 SRMR General provisions Christos V. Gortsos S. 1088-1095

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22A. The provisions of the SRMRAs already mentioned, the SRF was established by Art. 67 SRMR and is …” „… capital shortfall,including the “precautionary recapitalisation” in accordance with Art. 18(4) SRMR.The EU …” „… and theSRM;Second, it must be equal to the amount that would have been transferred by theContracting …”

Art. 41 SRMR Disclosure, nature, enforcement and allocations of fines and periodic penalty payments Chryssa PapathanassiouDisclosure, nature, enforcement and allocations of fines S. 948-950

„… , ‘Administrative pre-litigation review mechanism in the SRM:The SRM Appeal Panel’ in: Chiara Zilioli, Karl-Philipp …” „… Lamandini, David Ramos Munoz, ‘Administrative pre-litigation review mechanism in theSRM: The SRM Appeal …” „… SRMRDisclosure, nature, enforcement and allocations of fines and periodicpenalty payments1. The Board shall …”

Art. 61 SRMR Establishment and implementation of the budget Andreas Witte S. 1041-1047

„… control over resolution action which does not become im-mediately apparent from Art. 18 SRMR.The SRM …” „… . 61(2) SRMR).Art. 62 SRMRInternal audit and control1. An internal audit function shall be set up within …” „… incidental question of relevance in proceedings before nationalcourts. Under the SRM, NRAs are in some cases …”

Art. 54 SRMR Tasks Janina Heinz S. 1002-1008

„… en-tities or groups within the remit of the SRM.I. Preparation of all decisions of the plenary session(Art …” „… exercise of the resolution powers.Tasks Art. 54 SRMRJanina Heinz 10071617181920Art. 55 SRMRDecision-making …” „… phase.II. Cross-border group (Art. 53(4) SRMR)In parallel to para. 3, Art. 53(4) SRMR stipulates that when …”

Art. 2 SRMR Scope Jens-Hinrich Binder S. 461-463

„… the role and functionof the Appeal Panel (Art. 85 SRMR).Art. 2 SRMRScopeThis Regulation shall apply to …” „… framework for the coordination of resolution actionswithin the SRM, the Regulation also stipulates …” „… enforcement of third-country resolution proceed-ings (Art. 33 SRMR).III. Institutional provisions and general …”

Art. 21 SRMR Write-down and conversion of capital instruments or eligible liabilities Andreas Witte S. 717-732

„… Art. 21 SRMRWrite-down and conversion of capital instruments oreligible liabilities1. The Board …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34A. Function and background of the provisionI. Role in the system of the SRMRArt. 21 SRMR provides …” „… one of the principal tools (the other being Art. 27 SRMR)with which the SRMR intends to achieve one of …”

Art. 85 SRMR Appeal Panel Ann-Kathrin Kaufhold S. 1163-1173

„… above-mentioned was established by virtue of Art. 84 SRMR.Art. 85 SRMRAppeal Panel1. The Board shall establish an …” „… demBeschwerdeausschuss nach Art. 85 SRM‑VO – Teil 1’, WM (2017), 1041; Rudolf Streinz (ed), EUV/AEUV(2nd edn, C.H. Beck …” „… Art. 85 SRMRAnn-Kathrin Kaufhold 11639. The decisions of the Appeal Panel shall be reasoned and …”

Art. 65 SRMR Contributions to the administrative expenditures of the Board Andreas Witte S. 1069-1075

„… to the SRM-specific modification that entities for which the SRB is responsible as perArt. 7(2) SRMR …” „… be found in the annotations to the affected provisions of theSRMR.Art. 65 SRMRContributions to the …” „… ); theyfall within the scope of the SRM and generate workload for the SRB. This mirrors thesituation under the …”

Art. 63 SRMR Implementation of the budget, presentation of accounts and discharge Andreas Witte S. 1054-1061

„… . 61 SRMR.Implementation of the budget, presentation of accounts and discharge Art. 63 SRMRAndreas …” „… Auditors as opposed to the for-malised observation procedure governed by Art. 63 SRMR.6The SRM Regulation …” „… stipulated in the last sentence of Art. 88(1)(1)SRMR).Art. 64 SRMRFinancial rulesThe Board shall, after …”

Art. 50 SRMR Tasks Janina Heinz S. 980-988

„… the SRM (Art. 50(1)(q) SRMR)In order to be able to perform its tasks in close cooperation with …” „… ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26V. Cooperation within the SRM (Art. 50(1)(q) SRMR …” „… relation to the internal governance of the Board, (iv)staff matters, and (v) cooperation within the SRM.I …”

Art. 34 SRMR Requests for information Klaus Lackhoff and Mikulas Prokop S. 927-932

„… the SRM under Art. 7 SRMRis indicative as to in which situations and for which entities the SRB may …” „… mirrored by Art. 20SRMR.Requests for information Art. 34 SRMRKlaus Lackhoff and Mikulas Prokop 92945678 …” „… tasks between the SRB and national resolution authorities within theSRM under Art. 7 SRMR is indicative …”

Art. 49 SRMR Participation in plenary sessions Janina Heinz S. 975-980

„… resolution scheme.8 As statedin Recital 120, “(t)he SRM brings together the Board, the Council, the …” „… . Headquarter Agreement (Art. 97 SRMR)As a result of locating the seat of the Board in Brussels, the Kingdom of …” „… Administrative Law (2nd edn, 2012), at pp. 153 et seq.9 Gortsos, The Single Resolution Mechanism (SRM) and the …”

Art. 29 SRMR Implementation of decisions under this Regulation Christos Hadjiemmanuil S. 854-881

„… ) SRMR.119 Significantly, the SRM’s internal cooperation framework only envisages the first possibility …” „… . 28(1)–(2) SRMR.Implementation of decisions under this Regulation Art. 29 SRMRChristos Hadjiemmanuil 85723 …” „… . 1 SRMR.Implementation of decisions under this Regulation Art. 29 SRMRChristos Hadjiemmanuil 859678 …”

Art. 14 SRMR Resolution Objectives Jens-Hinrich Binder S. 619-631

„… and Recital (89), sent. 4-5 SRMR.Resolution Objectives Art. 14 SRMRJens-Hinrich Binder 6193233view …” „… SRM. As formulated by Art. 14(1) SRMR, these ob-jectives, which mirror international standards,1 are …” „… consistency of approaches.II. The powers of the Board (Art. 13(3) SRMR)Once the procedure set out in Art …”

Art. 99 SRMR Entry into force Christos V. Gortsos S. 1226-1254

„… . 93 SRMR.10 Art. 99(5) SRMR.11 Art. 99(3) SRMR.Entry into force Art. 99 SRMRChristos V. Gortsos …” „… : Annual Report (2015),p. 30).1 Art. 99(1) SRMR.Art. 99 SRMR Entry into force1226 Christos V. Gortsos51 …” „… could be ensured only if the rules governing theestablishment and functioning of the SRM were to be …”

Art. 26 SRMR Asset separation tool Jens-Hinrich Binder S. 763-767

„… Art. 28(2) SRMR.Art. 26 SRMRAsset separation tool1. Within the resolution scheme, the asset separation …” „… within theSRM, however (see infra, → paras. 4-6). Similar to Arts. 24 and 25 SRMR (on the Sale ofBusiness …” „… SRMRJens-Hinrich Binder 765456SRMR provide any detailed substantive or procedural framework for the implementa-tion …”

Introduction to Arts. 67–74 SRMR Christos V. Gortsos S. 1079-1088

„… SRMRChristos V. Gortsos 1083789essential element of the SRM established by the SRMR,18 which contains …” „… SRMR). The latter (Art. 79 SRMR) governs the use of the national DGSs inresolution financing in the SRM …” „… (Art. 69 SRMR).The second group deals with the ex-ante and ex-post financing of the SRF; in this …”

Art. 40 SRMR Hearing of the persons subject to the proceedings Chryssa Papathanassiou S. 947-948

„… . 39(4) SRMR).Art. 40 SRMRHearing of the persons subject to the proceedings1. Before taking any decision …” „… review mechanism in the SRM:The SRM Appeal Panel’ in: Chiara Zilioli, Karl-Philipp Wojcik (eds), Judicial …” „… Art. 34 SRMR or to submit itself to the investigation or on-site inspec-tion or to supply information …”

Art. 16 SRMR Resolution of financial institutions and parent undertakings Jens-Hinrich Binder S. 648-653

„… un-der the auspices of the SRM and, in conjunction with Art. 18 SRMR, defines the condi-tions for such …” „… Resolution Plans of Banks inthe Context of the BRRD and the SRM: Fundamental Issues’, in: Danny Busch and …” „… .Resolution of financial institutions and parent undertakings Art. 16 SRMRJens-Hinrich Binder 64912B …”

Art. 59 SRMR Part I of the budget on the administration of the Board Andreas Witte S. 1030-1035

„… budgetary regime, wouldfall under Art. 59 SRMR.B. Revenues of Part I (Art. 59(1))Art. 59(1) SRMR stipulates …” „… integrates the national resolution authorities (NRAs) into theSRM (Art. 1(2) in conjunction with Art. 3(1)(3 …” „… (the sum of which exceeds their pre-SRM burden under the national resolutionschemes) are therefore of a …”

Art. 25 SRMR Bridge Institution Tool Jens-Hinrich Binder S. 754-763

„… within theSRM, however (see infra, → paras. 4-6). Similar to Arts. 24 and 25 SRMR (on the Sale ofBusiness …” „… for the application of the Bridge Institu-tion tool under the auspices of the SRM. Just as the Sale of …” „… Art. 25 SRMRJens-Hinrich Binder 7551B. Substantive and procedural requirements pertaining to the …”

Art. 33 SRMR Recognition and enforcement of third-country resolution proceedings Georgios Psaroudakis S. 921-927

„… resolution proceedingswithout being affected by processes in the SRM.Lastly, Art. 33(5) SRMR corresponds to …” „… Effectivenessof Resolution Actions’ (November 2015); Christos Gortsos, The Single Resolution Mechanism (SRM)and …” „… Gortsos, The Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF): Legal aspects ofthe …”

Art. 75 SRMR Investments Georgios Psaroudakis S. 1123-1129

„… . Gortsos, The Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF). Acomprehensive Review …” „… facilities (Arts. 73 and 74 SRMR). It isInvestments Art. 75 SRMRGeorgios Psaroudakis 112312the investment of …” „… separate from the Union budget as per Art. 58SRMR.It is submitted that the autonomous administration of the …”

Art. 81 SRMR Language arrangements Christos V. Gortsos S. 1150-1153

„… Council Regulation No 1 (Art. 81(1) SRMR)Council Regulation No 1 “determining the languages to be used by …” „… “establishing the frame-work for the practical arrangements for the cooperation within the [SRM] between the …” „… within theSRM is English. Accordingly, any written and oral internal communication betweenthe Board and …”

Art. 42 SRMR Legal status Christoph Ohler S. 950-953

„… review mechanism in the SRM:The SRM Appeal Panel’ in: Chiara Zilioli, Karl-Philipp Wojcik (eds), Judicial …” „… :2014:18,para. 82.5 Cf. Recital 11 SRMR.6 Cf. Art. 1(2) SRMR.Legal status Art. 42 SRMRChristoph Ohler …” „… SRMR.B. Legal personality of the BoardA further characteristic of the Board, which it shares also with …”

Art. 58 SRMR Budget Andreas Witte S. 1023-1030

„… Member State in the SSM, andbe reflected in the SRM (see Art. 4 SRMR).11 For summaries of the debate see …” „… )) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19A. Function and background of the provisionI. Role in the system of the SRMRArt. 58 SRMR …” „… budget on the basis ofestimates of upcoming revenue and expenditures. For the SRM, this role is …”

Art. 27 SRMR Bail-in tool Christos Hadjiemmanuil S. 767-847

„… : Relationship with the BRRDEssentially, Art. 27 SRMR reprises with specific reference to the BU’s SRM the …” „… largelyprocedural provision, specific to the SRM’s two-level organizational structure.Significantly, neither Art. 27 …” „… tools; see Binder, EBOR 21 (2020), at pp. 463–470.17 Art. 18(1) SRM.18 Art. 22(2)(a)–(c) SRMR.19 Recital …”

Art. 74 SRMR Access to financial facility Christos V. Gortsos S. 1115-1123

„… (i.e., liq-uidity) mechanisms’, such as the SRF under the conditions laid down in Art. 73 SRMR.This …” „… F12%2Fpdf%2FStatement-of-Eurogroup-and-ECOFIN-Ministers-on-the-SRM-backstop%2 …” „… common backstop tothe SRM for the SRF could also be used in this respect.36 Nevertheless, this backstop …”

Titelei/Inhaltsverzeichnis

„… Single Resolution FundSRM Single Resolution MechanismSRMR Single Resolution Mechanism …” „… andCouncilSRM 18 12 List of CasesXXIIICourt Case SSM/SRMArticle paragraphnumber inwhich thecourt case …” „… 1958, Meroni v ECSC High Authority SRM 42 5List of CasesXXIVCourt Case SSM/SRMArticle paragraphnumber …”

Art. 60 SRMR Part II of the budget on the Fund Andreas Witte S. 1035-1041

„… principles of law; see theannotations to Art. 58 SRMR.Part II of the budget on the Fund Art. 60 SRMRAndreas …” „… notavailable for any of the uses explicitly listed in Art. 60(2) SRMR.Art. 60 SRMR Part II of the budget on …” „… contribu-tions).II. Loans received from resolution financing arrangements innon-SRM Member States (Art. 60(1)(b))The …”

Art. 36 SRMR On-site inspections Klaus Lackhoff and Mikulas Prokop S. 935-936

„… subject to anon-site inspectionArt. 36 SRMR empowers the SRM to conduct “all necessary on-site inspections …” „… subject to general investigationscould easily obstruct general investigations.Art. 36 SRMROn-site …” „… authorities should not be deemed to be inbreach of professional secrecy. The provisions of Art. 34(2) SRMR …”

Art. 28 SRMR Monitoring by the Board Christos Hadjiemmanuil S. 847-854

„… )(a) SRMR;and Art. 5a(3) COFRA.29 Arts. 53(3)‒(4) and 55 SRMR.Monitoring by the Board Art. 28 …” „… SRMRChristos Hadjiemmanuil 85112131415within the SRM and given legal basis in COFRA, the instructions that the …” „… , under the SRMR’s two-lev-el resolution process, the SRB is not responsible for the actual execution of …”

Art. 79 SRMR Use of deposit guarantee schemes in the context of resolution Georgios Psaroudakis S. 1141-1148

„… ResolutionMechanism (SRM) and the Single Resolution Fund (SRF). A comprehensive Review of the second main pillarof the …” „… , para. 23, at pp. 13-14; Gortsos, The Single Resolution Mechanism (SRM) and the SingleResolution Fund …” „… decisions tobe made by the Board.Art. 79 SRMRUse of deposit guarantee schemes in the context of resolution1 …”

Art. 78 SRMR Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States Georgios PsaroudakisMutualisation of national fi... S. 1140-1141

„… actionsare required that affect institutions both in the area of application of the SRM (i.e.,as things not …” „… Art. 78 SRMRMutualisation of national financing arrangements in the case ofgroup resolution …” „… resolutionscheme. Taking into account Art. 3(1)(27) SRMR, the group-level resolution authoritymay be the Board, if …”

Art. 76 SRMR Mission of the Fund Georgios Psaroudakis S. 1129-1136

„… abovein the analysis of Art. 75 SRMR,1 given of the decision-making process in the SRM. In-deed, precisely …” „… be had to point (f) of Art. 76(1) SRMR,which is of central importance in the architecture of bank …” „… of Art. 27(3) SRMR.If one recalls that bail-in is used, according to Art. 27(1) SRMR, in order to …”

Art. 8 SRMR Resolution plans drawn up by the Board Matthias Haentjens S. 518-534

„… prepared for thegroup as a whole” (Recital 44 SRMR).B. Drawing-up, adoption and scope (Art. 8(1) SRMR)I …” „… . 8(2)-(4) and (8) SRMR)I. Cooperation with NRAs (Art. 8(2) SRMR)This para. 2 makes explicit that the SRB …” „… . 18 SRMR.IV. Perspectives to be taken into account (Art. 8(6)-(7) SRMR)Other than prescribing an …”

Art. 15 SRMR General principles governing resolution Jens-Hinrich Binder S. 631-648

„… SRMRJens-Hinrich Binder 645313233Full protection of covered deposits (Art. 15(1)(h) SRMR)The principle that …” „… Art. 15 SRMRJens-Hinrich Binder 641212223fications. As recognised, inter alia, by Art. 14(2)(a) SRMR …” „… governing resolution Art. 15 SRMRJens-Hinrich Binder 631Economic and Legal Perspectives (Cambridge …”

Art. 35 SRMR General investigations Klaus Lackhoff and Mikulas Prokop S. 932-935

„… SRB Decision establishing the framework of the practical arrangement for thecooperation within the SRM …” „… providers (Art. 34(1)(c) SRMR),i.e. a general investigation would not be available towards an outsourcing …” „… subject to general investigationscould easily obstruct general investigations.Art. 36 SRMROn-site …”

Art. 13 SRMR Early intervention Christos V. Gortsos S. 608-619

„… : ).39 Art. 13(2)(1) SRMR.40 Art. 13(2)(2) and (3) SRMR.Early intervention Art. 13 SRMRChristos V …” „… SRM, in the exercise of their respective responsibilitiesunder the SRMR, the Board, the Council, the …” „… significant differences) to Art. 13(1) SRMR(see infra, → paras. 25-26).17 Haentjens, in: Moss, Wessels and …”

Art. 17 SRMR Order of priority of claims Jens-Hinrich Binder S. 653-666

„… SRM Framework’ in:Danny Busch and Guido Ferrarini (eds), European Banking Union (Oxford University …” „… InsuranceInsolvency (2nd edn, 2017), para. 7.13.Order of priority of claims Art. 17 SRMRJens-Hinrich Binder 65312 …” „… . 21(8) SRMR.B. Functional background: Art. 17 SRMR as the missing link betweenwrite-down and conversion …”

Art. 3 SRMR Definitions Christos V. Gortsos S. 463-479

„… Mechanism” (SRM) is not defined in the SRMR. Art. 1(2) SRMRrefers to it as a “framework” consisting of the …” „… to consolidated supervision bythe ECB (Art. 2(b) SRMR)In addition to credit institutions, the SRMR …” „… solo basis, their inclusion into the scope of both the SSMand the SRM is necessary in order to ensure …”

Art. 24 SRMR Sale of business tool Jens-Hinrich Binder S. 741-754

„… resolution scheme is addressed to the NRA and it is pub-lished in accordance with Art. 29(5) SRMR.Art. 24 …” „… BancoPopular Español S.A., OJ L178, 11.7.2017, p. 15.Sale of business tool Art. 24 SRMRJens-Hinrich Binder …” „… Business toolhas been applied, for the first time within the SRM, in the case of Banco Popular EspañolS.A …”

Art. 53 SRMR Participation in the executive sessions Janina Heinz S. 997-1002

„… . Rules of Procedure (Art. 52(4) SRMR)Art. 52(4) SRMR requires the Board to adopt its rules of procedure …” „… ; meetings of theexecutive session (Art. 53(1) SRMR)I. The core compositionThe first sentence of Art. 53(1 …” „… referred to in Art. 43(1)(b) SRMR,i.e. the full-time Board members. The wording of this provision differs …”

Art. 86 SRMR Actions before the Court of Justice Ann-Kathrin Kaufhold S. 1173-1178

„… in relation tothe drafting of resolution plans according to Art. 11 SRMR.E. Art. 86(4) SRMRThe …” „… procedure (Art. 86(1) SRMR).J. Art. 85(9) SRMR: Duty to motivate and to notifyIn line with Art. 41(2)(c …” „… conflict between the Rules of Procedure and the SRMR thelatter supersedes.Art. 86 SRMRActions before the …”

Art. 83 SRMR Staff exchange Christos V. Gortsos S. 1156-1162

„… give effect to theseStaff Regulations.10C. Powers exercised by the Board (Art. 82(3) SRMR)In respect …” „… :52017DC0632>.11 Art. 82(3) SRMR.Art. 83 SRMR Staff exchange1156 Christos V. Gortsos62. In particular …” „… the practical arrangementsfor the cooperation within the [SRM] between the (…) Board and [NRAs …”

Art. 37 SRMR Authorisation by a judicial authority Klaus Lackhoff and Mikulas ProkopOn-site inspections/Authorisation by a judicial authority S. 936-941

„… subject to anon-site inspectionArt. 36 SRMR empowers the SRM to conduct “all necessary on-site inspections …” „… within the scope of SRMR.On-site inspections may be conducted at different levels of consolidation …” „… . 36(1) SRMR.If an investigated person is located in a participating Member State, the officials ofand …”

Art. 56 SRMR Appointment and tasks Janina Heinz S. 1010-1016

„… Vice-Chair to act in the capacity of a full-time Board member in the meaning ofArt. 43(1)(b) SRMR.Art. 56 …” „… ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27Appointment and tasks Art. 56 SRMRJanina Heinz 1011A. OverviewArt. 56 SRMR forms part of Part III …” „… (Art. 56(1) SRMR)Art. 56(1) SRMR closely relates to the composition and structure of the Board as …”

Art. 51 SRMR Meeting of the plenary session of the Board Janina Heinz S. 988-994

„… V. Cooperation within the SRM (Art. 50(1)(q) SRMR)In order to be able to perform its tasks in …” „… SRMR.D. Legal fiction of adoption (Art. 50(2)(2) SRMR)Art. 50(2)(2) SRMR provides for a legal fiction …” „… plenarysession pursuant to Art. 50(1)(q) SRMR.C. Relevant considerations for decision-taking (Art. 50(2)(1 …”

Art. 34 SSMR Entry into force Christos V. Gortsos S. 451-453

„… resolution mechanism (‘SRM’) established by this Regu-lation. The SRM shall be supported by a single …” „… Resolution Mechanism RegulationArt. 1 SRMRSubject matterThis Regulation establishes uniform rules and a …”

Art. 64 SRMR Financial rules Andreas Witte S. 1061-1069

„… stipulated in the last sentence of Art. 88(1)(1)SRMR).Art. 64 SRMRFinancial rulesThe Board shall, after …” „… professional secrecy restrictions of the SRM Regulation apply also to pro-vision of information under this …” „… neither under Art. 52(2)nor (3) SRMR.In addition, Art. 64(1) SRMR requires the consultation of the …”

Art. 7 SSMR Close cooperation with the competent authorities of participating Member States whose currency is not the euro Christoph OhlerClose cooperation with the competent authorities of participat... S. 133-141

„… cooperation.Bibliography Jens-Hinrich Binder, ‘Participation of non-euro area Member States in the SRM: cen-tralised …” „… legal effects of a close cooperation also to theSRM.Participation in the SSM is voluntary for Member …” „… , credibility and reputation, and participation in the SRM.8 A close cooperationcan be also seen as a …”

Art. 87 SRMR Liability of the Board Ann-Kathrin Kaufhold S. 1178-1187

„… Art. 11 SRMR.E. Art. 86(4) SRMRThe obligation of the Board to comply with a judgment of the Court of …” „… SRM.I. Prerequisites for obligation to compensate“Act or omission” committed by a national resolution …” „… Justice followsfrom Art. 266(1) TFEU. Art. 86(4) SRMR is of declaratory effect only.Art. 87 SRMRLiability …”

Art. 32 SSMR Review Christos V. Gortsos S. 428-445

„… affected significantly by the subsequentestablishment of the SRM and therefore should more appropriately be …” „… consideredonce the SRM is reviewed.The governance of the SSM11Accountability, due process and independence …” „… , alsoincluding Bulgaria and Croatia, which joined the SSM and the SRM by virtue of the close …”

Art. 17 SSM Framework Regulation Right of establishment and exercise of the freedom to provide services in relation to non-participating Member States Framework Regulation S. 260-264

„… cooperate with the SRM’s Single ResolutionBoard in conducting an assessment of the extent to which banks and …”

Art. 12k SRMR Transitional and post-resolution arrangements Minimum Requirements S. 589-608

„… . Eligibility and subordination (Arts. 12c and 12g(2)-(3) SRMR)External MREL (Art. 12c SRMR)Art. 12c(1)-(3) SRMR …” „… planning process, which explains the positionof Arts. 12-12k SRMR in the SRMR’s chapter on resolution …” „… protection within the SRM is also rele-vant in light of MREL related decisions and will be briefly touched …”

Art. 8 SSMR International relations Christoph Ohler S. 141-146

„… (Austria)”’, ZFR (2021), 218; Jörn Axel Kämmerer, ‘Rechtsschutzin der Bankenunion (SSM, SRM)’, WM (2016), 1 …”

Art. 2 SSMR Definitions Christos V. Gortsos S. 13-23

„… below, tothe extent that there is an overlapping, in a consolidated form with those of the SRMR.The …” „… formsthe basis for the operation of the SRM).5On 20 May 2019, these legislative acts were amended as …” „… ) SRMR.Art. 2 SSMR Definitions20 Christos V. Gortsos15161718tasks within the framework set out in national …”

Art. 14 SSMR Authorisation Elke Gurlit S. 189-215

„… ”. Within the institutional framework of the SRM, the SRB iscompetent to make decisions relating to the …” „… regard to the SRM; evolution of the “preparatory acts doctrine” analysed by Lefterov,ESCB Legal …” „… 82(3)(a) BRRD.96 See Art. 5 SRMR stipulating that the SRB shall for the application of the BRRD be …”

Art. 1 SSMR Subject matter and scope Christoph Ohler S. 1-13

„… constituted by the Single Resolution Mechanism(SRM) under Regulation (EU) No 806/2014 (SRMR).2II. Banking …”

Art. 9 SSMR Supervisory and investigatory powersThis contribution should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the author and d... S. 146-158

„… (Austria)”’, ZFR (2021), 218; Jörn Axel Kämmerer, ‘Rechtsschutzin der Bankenunion (SSM, SRM)’, WM (2016), 1 …”

Art. 4 SSMR Tasks conferred on the ECB Klaus Lackhoff and Andreas Witte S. 37-85

„… resolution or is even the same authority; since the estab-lishment of the SRM it is only ensured that the …” „… theBRRD/SRMR provide for an exemption from the qualifying holding rules, such an as-sessment has to be carried …” „… itself isnot able to differentiate them (see Art. 13 SRMR) and that early intervention measurespursuant …”

Art. 15 SSMR Assessment of acquisitions of qualifying holdings Elke Gurlit S. 215-235

„… offered by Mersch, EuZW 2020, 781, at p. 785; composite pro-cedures within to the SRM analysed by …”

Art. 24 SSMR Administrative Board of Review René Smits S. 321-341

„… the SRM and elucidates on various issues, theGeneral Court reaffirmed the case law on the exclusive …”

Art. 73 SRMR Alternative funding means Christos V. Gortsos S. 1114-1115

„… (i.e., liq-uidity) mechanisms’, such as the SRF under the conditions laid down in Art. 73 SRMR.This …” „… Art. 73 SRMRAlternative funding means1. The Board may contract for the Fund borrowings or other …” „… (Palgrave Macmillan, Springer Nature, Cham/Switzerland 2020).A. The provisions of Art. 73 SRMRIf the …”

Art. 55 SRMR Decision-making Janina Heinz S. 1008-1010

„… meaning ofArt. 43(1)(b) SRMR.Art. 56 SRMRAppointment and tasks1. The Board shall be chaired by a full-time …” „… Art. 55 SRMRDecision-making1. When deliberating on an individual entity or a group established only …” „… Art. 55 SRMR.B. Decision-making process in the extended executive sessionArts. 55(1) and (2) SRMR are …”

Art. 90 SRMR Access to documents Christos V. Gortsos S. 1195-1199

„… ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12A. On Regulation (EC) No 1049/2001 (Art. 90(1) SRMR)Pursuant to Art. 90(1) SRMR, applicable to the …” „… “Public Register ofDocuments” (Art. 90(2) SRMR)The practical measures for applying Regulation (EC) No …” „… SRMR;Second, the protection of the privacy and the integrity of the individual, in particularin accordance …”

Art. 89 SRMR Data protection Christos V. Gortsos S. 1190-1195

„… ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12A. On Regulation (EC) No 1049/2001 (Art. 90(1) SRMR)Pursuant to Art. 90(1) SRMR, applicable to the …” „… that it refers to the exchanges with other authoritiesas well.Art. 89 SRMRData protectionThis …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14A. OverviewIn accordance with Art. 89 SRMR, this legislative act is without prejudice to the …”

Art. 92 SRMR Court of Auditors Christos V. Gortsos S. 1202-1206

„… examinations – ECA powers(Art. 92(1)-(5) and (8) SRMR)The ECA must prepare two Reports relating to the work of …” „… informationrequested.15C. Recipients of the ECA’s Reports – disclosure requirements(Art. 92(6)-(7) SRMR)The Reports …” „… : .17 Art. 92(7)(1) SRMR.18 Art. 92(7)(2) SRMR.Art. 93 SRMR Exercise of the delegation1206 Christos …”

Art. 91 SRMR Protection of classified and sensitive non-classified information Christos V. Gortsos S. 1199-1202

„… Art. 91 SRMRProtection of classified and sensitive non-classified informationThe Board shall apply …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8A. Obligations imposed on the BoardIn accordance with Article 91 SRMR, the Board must apply the …” „… sent. 1 SRMR.2 Art. 91 sent. 2 SRMR.3 OJ L 72, 17.3.2015, p. 53-88. Its legal bases are Arts. 249 TFEU …”

Art. 10 SRMR Assessment of resolvability Matthias Haentjens S. 537-552

„… (Art. 10(1)-(6) SRMR)I. Resolvability (Art. 10(1) SRMR)Under Art. 8(9)(e) and (11)(c) SRMR, the SRB …” „… . Resolvability assessment (Art. 10(6) and (3)-(4) SRMR)Matters to be taken into account (Art. 10(6) SRMR)Pursuant …” „… may be radical (Art. 10(7)-(13) SRMR).The EBA has published Regulatory Technical Standards on (inter …”

Art. 84 SRMR Internal committees Christos V. Gortsos S. 1162-1163

„… of Art. 84 SRMR.Art. 85 SRMRAppeal Panel1. The Board shall establish an Appeal Panel for the purposes …” „… Board with advice and guidance on the discharge of its functionsunder the SRMR.In accordance with the …” „… SRMRAnn-Kathrin Kaufhold 1163 …”

Art. 23 SRMR Resolution SchemeThe information and views set out in this publication are those of the author and do not necessarily reflect the official opinion of the Commission. The Commission does n... S. 738-741

„… Governance Support Unit (2019).8 Recital (72) of the SRMR.Resolution Scheme Art. 23 SRMREmiliano Tornese …” „… pub-lished in accordance with Art. 29(5) SRMR.Art. 24 SRMRSale of business tool1. Within the resolution …” „… or SRF aidadopted in accordance with Art. 19 SRMR.As clarified under Art. 19(1) SRMR, in this case …”

Art. 22 SRMR General principles of resolution tools Jens-Hinrich Binder S. 732-738

„… SRMRJens-Hinrich Binder 737141516Art. 23 SRMRResolution Scheme*The resolution scheme adopted by the Board under …” „… of assets, rights or liabilities pursuant to Arts. 24 or 25 SRMR,has to be wound up under normal …” „… . 15).General principles of resolution tools Art. 22 SRMRJens-Hinrich Binder 7331B. The principlesI …”

Art. 96 SRMR Replacement of national resolution financing arrangements Christos V. Gortsos S. 1222-1223

„… asunder the SRMR (Art. 3(1)(24) SRMR), namely, a group that has entities as referred to inArt. 2 SRMR …” „… .17Art. 96 SRMRReplacement of national resolution financing arrangementsFrom the date of application …” „… already mentioned in the analysis of Art. 68 SRMR, Member States should estab-lish (one or more …”

Art. 95 SRMR Amendment to Regulation (EU) No 1093/2010 Christos V. Gortsos S. 1219-1222

„… the High-Level Group established by theEurogroup40 and the review of the DGSD.41Art. 95 SRMRAmendment …” „… (EU) No 1093/2010 Art. 95 SRMRChristos V. Gortsos 1219groups to strengthen effectiveness and …” „… references.Art. 95 SRMR Amendment to Regulation (EU) No 1093/20101220 Christos V. Gortsos1The EBA (like the …”

Art. 20 SRMR Valuation for the purposes of resolution Christos V. Gortsos S. 699-717

„… ) when preparing the draft delegated act (see Recital (115) SRMR).Art. 20 SRMRValuation for the purposes …” „… ) SRMR.Valuation for the purposes of resolution Art. 20 SRMRChristos V. Gortsos 7092627282930SRMR,43 this may be …” „… SRMR Valuation for the purposes of resolution716 Christos V. Gortsos525354Art. 21 SRMRWrite-down and …”

Art. 9 SRMR Resolution plans drawn up by national resolution authorities Matthias Haentjens S. 534-537

„… extensively at the commentary on Art. 10 SRMR.F. Review and updating resolution plans (Art. 8(12) SRMR)Para …” „… III. Elements of group resolution plans (Art. 8(11) SRMR)Similar to para. 9, this para. 11 sets …” „… revision or update”.G. Review and updating resolution plans (Art. 8(12) SRMR)Para. 13 says what must be …”

Art. 72 SRMR Voluntary borrowing between resolution financing arrangements Christos V. Gortsos S. 1112-1114

„… Implementing Regulation (EU)No 680/2014.18The deferral periodIn accordance with Art. 71(2) SRMR and as already …” „… to apply, the Boardmay renew the deferral period, for up to six months.20Art. 72 SRMRVoluntary …” „… ) Commission Delegated Regulation (EU) 2017/747.19 Art. 71(2) sent. 2 SRMR, supra, → para. 220 Art. 6(5)-(6 …”

Art. 68 SRMR Requirement to establish resolution financing arrangements Christos V. Gortsos S. 1095-1097

„… Art. 68 SRMRRequirement to establish resolution financing arrangementsParticipating Member States …” „… BRRD has been taken over mu-tatis mutandis in the SRMR albeit not in the same order. In particular: Art …” „… . 101 BRRDon the use of national resolution financing arrangements corresponds to Art. 77 SRMRon the use …”

Art. 82 SRMR Staff Christos V. Gortsos S. 1153-1156

„… /2018/15.23 Art. 81(5) SRMR; on this Centre, see at: .Staff Art. 82 SRMRChristos V …” „… exception(Art. 82(1) SRMR)Applicable to the Board’s staff are the Staff Regulations of Officials and the …” „… accordance withArt. 110 of the Staff Regulations (Art. 82(2) SRMR)The Board, in agreement with the Commission …”

Art. 44 SRMR Compliance with Union law Christoph Ohler S. 955

„… The Secretariat, as mentioned by Art. 43(5)(d) SRMR, provides the necessary admin-istrative and …” „… technical support on the performing of all the tasks assigned to the Board.Art. 44 SRMRCompliance with Union …” „… .Art. 44 SRMR reiterates a constitutional principle of EU law that the executive branchof the Union, to …”

Art. 43 SRMR Composition Christoph Ohler S. 953-955

„… law with Belgium,its host state according to Art. 48 SRMR.C. Representation of the BoardPursuant to …” „… Art. 42(3) SRMR the Board is represented by its Chair (Art. 56 SRMR).This power refers to all legal …” „… carries out the functions of the Chair in one ofthe cases defined by Art. 56(3) SRMR.This (rather slim …”

Art. 80 SRMR Privileges and immunities Christos V. Gortsos S. 1148-1150

„… Art. 10(2) DGSD.Art. 80 SRMRPrivileges and immunitiesProtocol No 7 on the Privileges and Immunities of …” „… Art. 80 SRMR, this Protocol also appliesto the Board and its staff (see infra, → paras. 2-11), as well …” „… Art. 18 Protocol (No 7).6 Art. 1 Protocol (No 7) and Art. 2 Protocol (No 7).Art. 80 SRMR Privileges …”

Art. 66 SRMR Anti-fraud measures Andreas Witte S. 1075-1079

„… Art. 65 contri-butions serve to finance the SRB’s own work.Art. 66 SRMRAnti-fraud measures1. For the …” „… . 66 SRMRAndreas Witte 1077345C. Power of audit of the Court of Auditors (Art. 66(2))Art. 66(2) SRMR …” „… inArt. 65(3) SRMR. The deadline for payment is 35 calendar days as of the date of notifi-cation; after …”

Art. 97 SRMR Headquarters Agreement and operating conditions Christos V. Gortsos S. 1223-1224

„… a group resolution asreferred to in Art. 107 thereof.In that respect, Art. 96 SRMR stipulates that …” „… , upon the date of application of theRegulation in accordance with Art. 99(2) and (6) SRMR (analysed …” „… totally consistent with the architecture of the SRMR and the SRF Agree-ment, which, as already noted in …”

Art. 88 SRMR Professional secrecy and exchange of information Christos V. Gortsos S. 1187-1190

„… at:).7 Art. 88(1)(1) sent. 2 SRMR.Art. 88 SRMR Professional secrecy and exchange of information1188 …” „… IRTs in accordance with Art. 83(3)SRMR.10B. Procedural aspects (Art. 88(4)-(5) SRMR)The Board must …” „… ) SRMR)The above-mentioned provisions of Art. 88(1)-(5) SRMR do not prevent the Board,the Council, the …”

Art. 69 SRMR Target level Christos V. Gortsos S. 1097-1100

„… – spreading out of ex-antecontributions to the SRF (Arts. 69(1)-(2) and 69(5)(a) SRMR)The available financial …” „… applicable by virtue of Art. 99(6) SRMR.However, as discussed infra when commenting on it, Art. 99(6) SRMR …” „… smaller credit institutions.7 Art. 69(2) SRMR.Art. 69 SRMR Target level1098 Christos V. Gortsos12345time …”

Art. 12g SRMR Application of the minimum requirement for own funds and eligible liabilities to entities that are not themselves resolution entities Minimum Requirements S. 585-587

„… of a non-EU G-SII.Art. 12f SRMRApplication of the minimum requirement for own funds and …” „… entities are to do so in conformity with the resolutionplan.Art. 12g SRMRApplication of the minimum …” „… . 12–12k SRMRMatthias Haentjens 5852. The requirement referred to in Article 12a(1) for entities referred …”

Art. 12f SRMR Application of the minimum requirement for own funds and eligible liabilities to resolution entities Minimum Requirements S. 585

„… of a non-EU G-SII.Art. 12f SRMRApplication of the minimum requirement for own funds and …” „… entities are to do so in conformity with the resolutionplan.Art. 12g SRMRApplication of the minimum …” „… . 12–12k SRMRMatthias Haentjens 585 …”

Art. 12e SRMR Determination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs and Union material subsidiaries of non-EU G-SIIs Minimum Requirements S. 584-585

„… granted to the competent authorities by that Regulation.Art. 12e SRMRDetermination of the minimum …” „… reasons for that decision, including aArts. 12–12k SRMR Minimum Requirements584 Matthias Haentjensfull …” „… G-SII.Art. 12f SRMRApplication of the minimum requirement for own funds and eligibleliabilities to …”

Art. 12d SRMR Determination of the minimum requirement for own funds and eligible liabilities Minimum Requirements S. 579-584

„… resolution entity's recapitalisa-tion.Art. 12d SRMRDetermination of the minimum requirement for own funds …” „… they are authorised underMinimum Requirements Arts. 12–12k SRMRMatthias Haentjens 579Directive 2013/36 …” „… paragraph, the Board shall take into account the requirements referredto in Article 27(7).Arts. 12–12k SRMR …”

Art. 71 SRMR Extraordinary ex-post contributions Christos V. Gortsos S. 1109-1112

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9A. Payment of extraordinary ex-post contributions(Art. 71(1) SRMR)If the available financial means …” „… Art. 71 SRMRExtraordinary ex-post contributions1. Where the available financial means are not …” „… this Article.A. Payment of extraordinary ex-post contributions (Art. 71(1) SRMR) . . . . . . . . . 1B …”

Art. 70 SRMR Ex-ante contributions Christos V. Gortsos S. 1100-1109

„… . 70(2)(3)-(4) SRMR.Ex-ante contributions Art. 70 SRMRChristos V. Gortsos 11033456II. Commission Delegated …” „… period.C. Specific provisions which may apply after the initial period(Arts. 69(4) and 69(5)(c) SRMR)If …” „… ) 2017/747.Art. 70 SRMREx-ante contributions1. The individual contribution of each institution shall be …”

Art. 10a SRMR Power to Prohibit Certain DistributionsAs amended by Art. 1(5) SRMR II. Matthias Haentjens S. 552-562

„… accor-dance with Art. 29 SRMR. See the commentary on Art. 29 SRMR.Pursuant to para. 13, the SRB must, in its …” „… anintrusive sanction from a corporate law point of view, is elaborated in Art. 10a SRMR,which also formed part …” „… in this Art. 10a SRMR.If a certain threshold of MREL is breached, the SRB may (but is not obliged to …”

Art. 12c SRMR Eligible liabilities for resolution entities Minimum Requirements S. 575-579

„… Art. 12c SRMREligible liabilities for resolution entities1. Liabilities shall be included in the …” „… Requirements Arts. 12–12k SRMRMatthias Haentjens 575(c) those liabilities do not exceed an amount determined …” „… funds, subordinatedArts. 12–12k SRMR Minimum Requirements576 Matthias Haentjenseligible instruments, or …”

Art. 12b SRMR Exemption from the minimum requirement for own funds and eligible liabilities Minimum Requirements S. 574-575

„… entities or groups.Art. 12a SRMRApplication and calculation of the minimum requirement for ownfunds and …” „… Articles 429 and 429a of Regulation(EU) No 575/2013.Art. 12b SRMRExemption from the minimum requirement for …” „… consolidation referred to in Article 12f(1).Arts. 12–12k SRMR Minimum Requirements574 Matthias HaentjensArt. 12 …”

Art. 12a SRMR Application and calculation of the minimum requirement for own funds and eligible liabilities Minimum Requirements S. 574

„… entities or groups.Art. 12a SRMRApplication and calculation of the minimum requirement for ownfunds and …” „… Articles 429 and 429a of Regulation(EU) No 575/2013.Art. 12b SRMRExemption from the minimum requirement for …” „… consolidation referred to in Article 12f(1).Arts. 12–12k SRMR Minimum Requirements574 Matthias Haentjens …”

Art. 12 SRMR Minimum requirement for own funds and eligible liabilitiesAs amended by Art. 1(6) SRMR II.I am grateful to Prof. Dr. E.P.M. Joosen, for his insightful comments to an earlier version of th... S. 573-574

„… drafted.F. Ending the application of simplified obligations (Art. 11(6) SRMR)Pursuant to para. 6, the SRB …” „… every two years.22Art. 12 SRMRMinimum requirement for own funds and eligible liabilities1*1. The Board …” „… ) SRMR II.* I am grateful to Prof. Dr. E.P.M. Joosen, for his insightful comments to an earlier version …”

Arts. 12–12k SRMR Minimum requirements S. 573

„… drafted.F. Ending the application of simplified obligations (Art. 11(6) SRMR)Pursuant to para. 6, the SRB …” „… every two years.22Art. 12 SRMRMinimum requirement for own funds and eligible liabilities1*1. The Board …” „… ) SRMR II.* I am grateful to Prof. Dr. E.P.M. Joosen, for his insightful comments to an earlier version …”

Art. 11 SRMR Simplified obligations for certain institutions Matthias Haentjens S. 562-573

„… (Art. 11(1)-(2) and (9)-(10) SRMR)I. SRB decision (Art. 11(1) and (9)-(10) SRMR)In accordance with …” „… , ora waiver as defined in this Art. 11 SRMR.II. Proposal by NRAs (Art. 11(2) and (9) SRMR)Pursuant to …” „… . 8 or 9”. See thecommentary on Art. 8 SRMR.Although this is not explicitly stated in para. 1, para. 9 …”

Art. 98 SRMR Start of the Board’s activities Christos V. Gortsos S. 1224-1226

„… provisions of Art. 98 SRMROn the basis of Art. 98 SRMR, in 2014 and during the first months of 2015, the …” „… : Annual Report (2015),p. 30).1 Art. 99(1) SRMR.Art. 99 SRMR Entry into force1226 Christos V. Gortsos51 …” „… , “including multilingual, European-oriented schoolingand appropriate transport connections”.6Art. 98 SRMRStart …”

Art. 12h SRMR Waiver of the minimum requirement for own funds and eligible liabilities applied to entities that are not themselves resolution entities Minimum Requirements S. 587-588

„… resolution entity to therelevant subsidiary.Art. 12h SRMRWaiver of the minimum requirement for own funds and …” „… Requirements Arts. 12–12k SRMRMatthias Haentjens 587(c) there is no current or foreseen material practical or …” „… SRMRWaiver for a central body and credit institutions permanentlyaffiliated to a central bodyThe Board may …”

Art. 52 SRMR General provisions on the decision-making process Janina Heinz S. 994-997

„… of voting members (Art. 52(1) SRMR)Art. 52(1) SRMR sets out the general rule that decisions of the …” „… castingvote.C. Qualified majorities (Arts. 52(2), (3) SRMR)Both para. 2 and para 3 of Art. 52 SRMR require a …” „… national level.D. Rules of Procedure (Art. 52(4) SRMR)Art. 52(4) SRMR requires the Board to adopt its …”

Art. 12j SRMR Breaches of the minimum requirement for own funds and eligible liabilities Minimum Requirements S. 588-589

„… is taken inrespect of the parent undertaking.Art. 12i SRMRWaiver for a central body and credit …” „… . 12j SRMRBreaches of the minimum requirement for own funds andeligible liabilities1. Any breach of the …” „… and 111 of Directive 2014/59/EU.Arts. 12–12k SRMR Minimum Requirements588 Matthias …”

Art. 12i SRMR Waiver for a central body and credit institutions permanently affiliated to a central body Minimum Requirements S. 588

„… is taken inrespect of the parent undertaking.Art. 12i SRMRWaiver for a central body and credit …” „… . 12j SRMRBreaches of the minimum requirement for own funds andeligible liabilities1. Any breach of the …” „… and 111 of Directive 2014/59/EU.Arts. 12–12k SRMR Minimum Requirements588 Matthias Haentjens …”

Art. 6 SSMR Cooperation within the SSM Christos V. Gortsos S. 92-133

„… , Finanzaufsicht (Mohr Siebeck, Tübingen2014); Tobias Tröger, ‘The Single Supervisory Mechanism (SRM)’ in …”

Art. 27 SSMR Professional secrecy and exchange of informationThis commentary is written in the private capacity of the author and should not be reported as representing the views of the ECB. The autho... S. 381-404

„… , including in thepreparation of resolution plans. This cooperation is further specified in the SRMR …” „… . Inparticular, Art. 30(2) SRMR establishes that the SRB, the Council, the Commission, theECB, the NRAs and the …” „… performance of their tasks. For this purpose, Art. 30(7)SRMR clarifies that the SRB shall conclude an MoU with …”

Art. 16 SSMR Supervisory powers Christos V. Gortsos S. 235-251

„… , → SRMR Art. 13. It is noted in this respect that Cossa andD’Ambrosio, in: D’Ambrosio (ed), Law and …” „… yet again the analysis of Art. 13 SRMR.33 See Ohler, in: Amtenbrink and Hermann (eds), The EU Law of …” „… in this caseas well.88 On this, see the analysis of → SRMR Art. 13.89 On Art. 91 CRD IV and the fit …”

Art. 20 SSMR Accountability and reporting Fabian Amtenbrink S. 288-302

„… Union and theMember States.”15 Yet, similar to what can be observed for Art. 47 SRMR, no legal …” „… can be observed for Art. 45(8) SRMR, the duty to cooper-ate with such investigations in principle …”

Art. 3 SSMR Cooperation Ann-Katrin Kaufhold S. 23-37

„… regulated in detail in the SRMR. When drawing up, adopt-ing and updating resolution plans, for example, the …” „… SRB is obliged to consult the ECB byArt. 8(1) and (2) SRMR. The ECB in return has to promptly …” „… communicate any changerelevant to resolution plans to the SRB (Art. 8[12] SRMR), which then again shall …”

Art. 21 SSMR National parliaments Fabian Amtenbrink S. 302-307

„… the executionof the tasks conferred on it by the SRMR to the European Parliament, to the Council …” „… arrangement can be found in theSRMR concerning the dialogue of the Chair of the Single Resolution Board with …” „… , → Art. 19.17 See infra, → SRMR Art. 46.18 Fromage and Ibrido (2018), at p. 302.19 Similar: ibid, at p …”

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