Date: 2020-04-29Category: Not ApplicableState: Union GovernmentCountry: Europe
Decision (EU) 2020/586 of the Single Resolution Board of 25 March 2020 on discharge in respect of the implementation of the budget and on the closure of the accounts of the Single Resolution Board for the financial year 2018 (SRB/PS/2020/11)
Executive Summary:
This is a decision by the Single Resolution Board (SRB) regarding the discharge of the SRB's budget implementation and the closure of accounts for the financial year 2018. The decision, adopted on March 25, 2020, grants discharge to the Chair of the SRB and approves the closure of accounts. The Chair is instructed to notify relevant bodies and arrange for publication of the decision.
Key Points / Main Content:
* **Discharge and Closure:**
* The Chair of the SRB is granted discharge in respect of the implementation of the SRB’s budget for the financial year 2018.
* The closure of the accounts of the SRB for the financial year 2018 is approved.
* **Observations:**
* The SRB's observations are set out in the motion.
* **Instructions to the Chair:**
* The Chair of the SRB is instructed to notify this Decision to the Council, the Commission, and the Court of Auditors.
* The Chair is responsible for arranging the publication of the Decision in the Official Journal of the European Union L series and on the SRB website.
Impact Analysis:
* **Chair of the Single Resolution Board:**
* Impact: Granted discharge for the implementation of the SRB budget for 2018 and responsible for the execution of the decision.
* Action Required: Notify the Council, the Commission, and the Court of Auditors; arrange for publication of the decision.
* **Council, Commission, and Court of Auditors:**
* Impact: Must be notified of the SRB's decision.
* Action Required: Review the notification from the SRB.
* **European Union:**
* Impact: The decision will be published in the Official Journal.
* Action Required: No action specified.
* **Single Resolution Board:**
* Impact: Closure of the accounts for the financial year 2018.
* Action Required: No action specified.
Key Entities Referenced
Single Resolution Board: An agency of the European Union responsible for the resolution of failing banks within the Single Resolution Mechanism.
Treaty on the Functioning of the European Union: One of the primary treaties of the European Union, outlining the scope of the EU's powers.
European Parliament: The directly elected parliamentary body of the European Union.
Council of the European Union: A body composed of government ministers from each EU member state.
Regulation EU No 806/2014: A regulation establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms.
Single Resolution Mechanism: A system for resolving failing banks in the Eurozone and other participating EU countries.
Single Resolution Fund: A fund used to support the resolution of failing banks within the Single Resolution Mechanism.
European Court of Auditors: The institution of the European Union that audits the implementation of the EU budget and the financial management of EU activities.
29.4.2020 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union L 135/13
DECISIONS
DECISION (EU) 2020/586 OF THE SINGLE RESOLUTION BOARD
of 25 March 2020
on discharge in respect of the implementation of the budget and on the closure of the accounts of the
Single Resolution Board for the financial year 2018 (SRB/PS/2020/11)
THE SINGLE RESOLUTION BOARD,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to 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(1), and in particular, Articles 50(1)(b) and 63(8) of the SRM Regulation,
Having regard to Article 97, 98 and 99 of the SRB Financial Regulation of 17 January 2020,
Having regard to the Final Annual Accounts of the SRB for the financial year 2018 as adopted on 26 June 2019 by way of a
written procedure (the ‘2018 Final Annual Accounts’),
Having regard to the Annual Report of the SRB for the financial year 2018 as adopted on 7 June 2019 by way of a written
procedure (the ‘2018 Annual Report’),
Having regard to the European Court of Auditors’ Annual Report on EU Agencies comprising the statement of assurance on
the reliability of the accounts and the legality and regularity of the underlying transactions and sound financial management
for the financial year 2018, together with the SRB’s replies (the ‘2018 Court of Auditors’ Annual Report’),
Having regard to the Report on the 2018 Final Annual Accounts including audit opinions dated 25 June 2019 prepared by
Mazars Réviseurs d’Enterprises (the ‘Mazars 2018 Audit Report’),
Having regard to the European Court of Auditors’ Report (pursuant to Article 92(4) of Regulation (EU) No 806/2014) on
any contingent liabilities arising as a result of the performance by the Single Resolution Board, the Council or the
Commission of their tasks under the SRM Regulation for the financial year 2018 (the ‘Court of Auditors’ Contingent
Liabilities Report 2018’),
Having regard to the Internal Audit Annual Report 2018 dated 8 January 2019 presented to and noted by the Board in its
Plenary Session on 30 January 2019 (the ‘Internal Audit Annual Report 2018’),
HAS ADOPTED THIS DECISION:
1. Grant the Chair of the SRB discharge in respect of the implementation of the SRB’s budget for the financial year 2018;
2. Approve the closure of the accounts of the SRB for the financial year 2018;
3. Set out its observations in the motion below;
(1) OJ L 225, 30.7.2014, p. 1.L 135/14 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union 29.4.2020
4. Instruct the Chair of the Single Resolution Board to notify this Decision to the Council, the Commission and the
Court of Auditors, to arrange for its publication in the Official Journal of the European Union (L series), and on the
website of the SRB.
For the Single Resolution Board
Dr. Thorsten PÖTZSCH
Plenary Member