The SRM: allocation of tasks and powers between the SRB and the NRAs and organizational issues

1. Key elements of the SRM 1.1. The rationale and the legal basis 1.2. Whether the SRMR encroaches on the principle of people’s sovereignty under the German Basic Law 1.3. The legal framework of the SRM: the BRRD, the SRMR and the Intergovernmental Agreement (IGA) 2. The SRB and NRAs: organisational issues 2.1. The Single Resolution Mechanism as a unitary system 2.2. The Single Resolution Board 2.3. The National Resolution Authorities and the problem of the monetary financing prohibition 3. Independence and accountability of the SRB and the NRAs 3.1. Independence of the SRB and NRAs (Article 47(1) SRMR) 3.2. Accountability of the Board to the EU Parliament, the Council and the Commission (Article 45 SRMR) 4. The allocation of tasks and powers to the SRB and the NRAs 4.1. The SRB’s tasks and powers 4.2. Resolution planning and MREL 4.3. The NRAs’ tasks and powers 4.4. The SRB’s and the NRAs’ sanctioning powers 4.5. Close cooperation within the SRM 4.6. An overview of the SRM composite procedures 5. The resolution procedure 5.1. The conditions for the application of the resolution procedure 5.2. The assessment of the ‘failing or likely to fail’ condition 5.2.1. The subjective scope of the ECB assessment 5.2.2. Whether the ECB may declare the FOLTF also on qualitative grounds 5.2.3. The extraordinary public financial support and the interpretation of the solvency requirement 5.3. The adoption of the resolution scheme and the involvement of the Commission and the Council in order to avoid the Meroni constraints 5.4. The scope of the assessment of the public interest 5.5. The procedure 5.6. State aids control 6. The resolution tools 7. The resolution Fund 7.1. The administration and use of the Fund by the SRB 7.2. Whether the Resolution Fund impairs the overall budgetary responsibility of the German Bundestag 7.3. The path to the creation of a common public backstop for the Single Resolution Fund 8. Information sharing, confidentiality and disclosure to criminal authorities. The MoUs between the SRB and the ECB and between the SRB and the Commission