For the SSM this refers to the harmonised supervisory powers of the Single Rulebook provided for by the CRDIV/CRR, even though the many options and prudential filters at national level with phasing-in allowed in some cases until 2029 need to be addressed. In addition, the SSM will make use of a Supervisory Manual to ensure harmonised supervisory practices across participating Member States.
In the case of the SRM the harmonisation of resolution tools is provided for by the Bank Recovery and Resolution Directive. In its resolution activity, the SRM is foreseen to have access to a Single Resolution Fund, which should be financed by the industry itself.