Bilateral Cooperation Arrangement Between the SRB and CBCG

The EU’s Single Resolution Board (SRB) and the Central Bank of Montenegro (CBCG) are pleased to announce a Cooperation Arrangement. The new arrangement is on the exchange of information and cooperation on Resolution planning and implementation for banks with cross-border operations. The arrangement will mean closer, regular cooperation between the two authorities and it comes amid ever-increasing cross border banking operations around the world and will allow for both the SRB and the CBCG to better manage a banking group that gets into difficulty and requires intervention from regulators.

The Single Resolution Board (SRB) is the central resolution authority within the Banking Union, which at present is 19 eurozone countries, Bulgaria and Croatia. Together with the national resolution authorities, it forms the Single Resolution Mechanism. The SRB works closely with the European Commission, the European Central Bank, the European Banking Authority and national authorities. Its mission is to ensure an orderly resolution of failing banks, protecting the taxpayer from state bail-outs, while promoting financial stability.

The Cooperation Arrangement can be downloaded from the following link.