What is the role of Internal Resolution Teams?

Published: 3/6/2020 Modified: 17/5/2022

The organisational parts of the Single Resolution Board (SRB) involved in the drafting of resolution plans for individual banking groups for which the SRB is directly responsible (resolution units) are divided into Internal Resolution Teams (IRTs). The SRB employees and employees of the national resolution bodies of the countries members of the Single Resolution Mechanism (SRM) in which a credit institution or a member of the group operates participate in the work of each IRT. The main task of the IRT is to draft a resolution plan for an individual credit institution, or a group of credit institutions for which the SRB is directly responsible. Each IRT is headed by a coordinator responsible for planning, coordinating and organising the activities of the members of the IRT and establishing and ensuring communication and cooperation between all IRT members.