... and with the SRM The performance of the new crisis management framework is less easy to assess. According to the existing legal framework, if problems arise in a bank, first the SSM is supposed to engineer early intervention to redress the situation. If, in the end, the bank is labelled ‘failing or likely to fail’, the SRM comes into play.
The SRM is composed of the Single Resolution Board (SRB), acting as a central resolution authority, and the 19 National Resolution Authorities (NRAs); it has within its remit both significant and less significant banks, but the latter only if they have cross-border activities.