Chair of the European Single Resolution Board Dominique Laboureix, SRB Board Member Tuija Taos, and Head of Unit for Resolution Planning and Decisions Jose Manuel Panero Rivas will visit Estonia on 16 and 17 November. During the two-day visit they will meet the heads of Finantsinspektsioon and the Guarantee Fund, the Governor of Eesti Pank, the Minister of Finance, and representatives of the banks in the Estonian Banking Association.
The meetings will focus on the current state of banking in Estonia, regulation, and supervisory developments, and on issues regarding resolution planning. The Chair of the SRB will also present a review of its priorities.
“The Estonian banks coped well during the financial crisis and society did not have to spend a single cent on rescuing them. The cornerstone of a strong banking sector is a framework for crisis resolution that is clear and that works well. This is why Estonia has always supported the single resolution mechanism of the euro area and why Estonia now plays an active part in the work of the SRB”, said chair of the management board of Finantsinspektsioon Kilvar Kessler.
"I am very pleased to visit Tallinn to help reinforce the good cooperation we already enjoy with the Estonian authorities. It is in all our interests to work together to ensure financial stability at no cost to the Estonian taxpayer. Ensuring that stability is an ongoing piece of work and I am delighted to get a first-hand insight into the challenges and characteristics of the Estonian banking market,” said Chair of the SRB Dominique Laboureix.
The SRB started work in March 2015 and coordinates resolution authorities across the euro area. The task of the SRB is to ensure orderly resolution of failing banks with minimal impact on the financial system, real economy and public funds both within the euro area countries and outside of them. Responsibility for resolution in Estonia lies with Finantsinspektsioon.