The MBA’s Chair, Marcel Cassar, Deputy Chair, Henry Schmeltzer and Secretary General, Karol Gabarretta, met with the new Chair of the Single Resolution Board (SRB), Dominique Laboureix and other officials of the SRB on the 29th September. Mr Laboureix was in Malta from September 28th to 29th on an official visit as part of his outreach programme for the year to bolster collaboration and strengthen the relations between the SRB and relevant competent authorities forming part of the Single Resolution Mechanism. Senior officials from the Resolution Unit of the Malta Financial Services Authority (MFSA) were also present given the latter’s role as local Resolution Authority.
Topics broached at the meeting included, the progress made by the SRB and the NRAs in resolution planning and enhancing resolvability of banks, the implementation by local banks of the minimum requirement for own funds and eligible liabilities (MREL), the issues arising from the Crisis Management and Deposit Insurance proposal by the EU Commission and the challenges and opportunities of resolution planning in a post-pandemic environment.
