The Chair of the Single Resolution Board (SRB), Elke König, said that once the banks concerned have finalised the preparation of their resolution plans, the European authority in charge of resolving a failing bank will have the task of “testing” these plans in order to be able to react quickly in case of emergency.
“I hope that the banks will have addressed all the resolution topics by the end of next year” and then the SRB will reach a cruising speed where it can “test” the...