Bank and Investment Firm Resolution Fund (BIFR)

What is the BIFR?

The Bank and Investment Firm Resolution Fund (BIFR) was established in November 2015, the purpose of which is: 

  • To guarantee the assets or the liabilities of the institution under resolution
  • To make loans to or to purchase assets of the institution under resolution
  • To make contributions to a bridge institution and an asset management vehicle
  • To make a contribution to the institution under resolution in lieu of the write-down or conversion of liabilities of certain creditors under specific conditions
  • To pay compensation to shareholders or creditors who incurred greater losses than under normal insolvency proceedings.

Who is liable to pay?

In accordance with the Bank Recovery and Resolution Directive (BRRD) and EU (Bank Recovery and Resolution) Regulations 2015 (S.I 289 of 2015):

  • All banks
  • Third county branches and
  • Full scope Capital Requirements Directive IV (CRD IV) investment firms

are liable to contribute to the BIFR, commencing with the calendar year 2015.

Banks and investment firms that are within the scope of the Single Resolution Mechanism (SRM)- regulation (SRM Institutions) are obliged from 1 January 2016 to contribute to the Single Resolution Fund (SRF). Contributions from SRM Institutions for the 2015 calendar year were transferred to the SRF in January 2016. Investment firms who are not within scope of the SRF and third country branches continue to contribute to the BIFR.

How is the levy calculated?

The Central Bank calculates the amount of levy payable by an in scope institution by applying the calculation method outlined in the Commission Delegated Regulation (EU) 2015/63. The methodology for calculating the levy due from limited activity investment firms and third country branches is set out in European Union (Bank Recovery and Resolution) Resolution Fund Levy Regulations 2019 (S.I. No. 163 of 2019).

Levying process

BIFR Fund Reporting Form for Contributions

BIFR 2019 Fund Reporting Form for Contributions | xls 344 KB

The Central Bank  issues a Fund Reporting Form for Contributions (reporting form) to the institutions each year in order to gather the data required to calculate the institution’s levy. 

  1. Institutions are required to complete this reporting form, by populating it with the institution’s financial information at the reference date, which corresponds to the balance sheet date of the latest approved annual financial statements available before 31 December of the year prior to the contribution period. The reporting form contains general instructions related to its completion.
  2. Once the reporting form is complete, institutions are required to submit it to the Central Bank by uploading it to the Central Bank’s online reporting system (ONR) by mid-January of the following year.

BIFR Sign Off Report

BIFR 2019 Sign Off Report | doc 26 KB
  1. The data provided in the reporting form should be signed off by a member of the Board of the institution using the BIFR sign-off report
  2. Institutions are required to submit a completed BIFR sign-off report (in pdf format) through the Central Bank’s ONR by 1 March of the following year.

Approved Annual Financial Statements

Institutions are also required, when submitting the completed reporting form, to submit their approved annual financial statements (in pdf format) which correspond to the reference date of the reporting form by mid-January of the following year.

Levy notices are issued to institutions on or before 1 May each year. Institutions are required to make payment to the Central Bank in June each year.


Any questions or requests for additional information can be addressed to the Central Bank and submitted by email: