Purpose and financing of the European Single Resolution Fund (SRF)
The European Single Resolution Fund (Single Resolution Fund) is an emergency fund that can be used, if necessary and subject to certain conditions, to address a crisis. The SRF can only be used as part of a resolution to ensure the effective implementation of resolution measures. The SRF aims to help ensure the stability of the financial system.
Contributions are collected annually from all banks in the Banking Union to finance the SRF. Building up the SRF, i.e. collecting contributions, started in 2016 following the establishment of the Single Resolution Framework. The SRF has a target level of 1% of the guaranteed deposits of banks in the Banking Union, to be reached by 1 January 2024.
By the end of 2022, the SRF had accumulated around 66 billion euros.