 The text of the Regulation approved by the European Parliament stipulates that all states participating in the SSM, including those non-eurozone states with a "close cooperation" agreement, will automatically be participants in the SRM.The IGA states that the intention of the signatories is to incorporate the IGA's provisions into EU structures within 10 years.The Single Resolution Board (SRB) was established in 2014 by Regulation (EU) No 806/2014 on the Single Resolution Mechanism (SRM Regulation) and began work on 1 January 2015.