Possibility of future financial crises, but banks are now more resilient
Dominique Laboureix, the chair of the Single Resolution Board. Photo: Nicolas Lobet
The European Union’s Single Resolution Mechanism (SRM) marked its 10th anniversary in Brussels, with its chair stressing that the EU’s system for managing bank failures must continue to “preserve financial stability and protect the taxpayer.”
Speaking ahead of the anniversary conference, Single Resolution Board chair Dominique Laboureix said the SRM’s purpose was “to protect financial stability, particularly via the crisis-management toolkit we’ve been given for banks which fail, and obviously the idea is to do this while protecting the taxpayer.”
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