Single Resolution Fund (SRF)

What is the SRF?

The Single Resolution Fund (SRF) was established on 1 January 2016. Institutions that come within the scope of the Single Resolution Mechanism (SRM) regulation are required to make contributions to the SRF rather than to national resolution funds.  In resolution actions the SRF may, subject to conditionality, be used to:

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

Who is liable to pay?

Banks and investment firms that are in the scope of the SRM regulation are obliged from 1 January 2016 to contribute to the SRF.

How is the levy calculated?

  • The Single Resolution Board (SRB) in Brussels calculates the contributions for the SRF, based on the data submitted by institutions.
  • As a rule, institutions with higher risk profiles will pay a larger contribution.
  • Commission Delegated Regulation (EU) 2015/63 contains detailed provisions on how the contributions should be calculated. These rules are complemented by Council Implementing Regulation (EU) 2015/81. 

Levying Process

Fund Reporting Form for Contributions

SRF 2022 Reporting Form for Contributions | xls 1079 KB

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

  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.
    As the Central Bank is assisting the SRB by collecting the completed reporting form from in-scope institutions in Ireland, the Central Bank passes the completed reporting form to the SRB.

SRF Additional Assurance

Decision SRB ES 2021 57 on the 2022 Data Reporting Form and the 2022 Additional Assurance Requirements | pdf 1795 KB 2022 Additional Assurance Requirements | doc 73 KB

The SRB requires that the information provided is subject to review.

Institutions that are part of a group referred to in Article 7(2)(a) of the SRM Regulation that fall under direct ECB supervision (unless the institution is a small institution subject to the lump-sum levy under Article 10 of the Commission Delegated Regulation) are required by the SRB to provide confirmation by an external auditor on specific Agreed Upon Procedures.

The confirmation by an external auditor (in pdf format) using agreed upon procedures should be provided to the Central Bank through the Central Bank’s ONR by 10 March of the following year.

Approved Annual Financial Statements

Institutions are 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 by the Central Bank on or before 1 May each year.
Institutions are required to make payment to the Central Bank in June each year. The Central Bank transfers the collected levies to the SRF by 30 June each year.

SRF Guidance documents

SRF 2022 Additional Guidance on Deductions | pdf 365 KB    

For an overview of the key steps and the preliminary timeline of the 2022 ex-ante contributions cycle, you can consult the 2022 cycle Kick-off letter.



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

View Single Resolution Fund for more information.