25/03/2025
Board Member of the European Single Resolution Board Tuija Taos and Head of Unit for Resolution Planning and Decisions Jose Manuel Panero Rivas visited Estonia on 15 November. During the visit they met the heads of Finantsinspektsioon and the Guarantee Fund, and representatives of some banks.
The meeting focused on the current state of banking in Estonia and the priorities for crisis resolution.
“Trust in banking is based partly on having a clear and harmonised framework for crisis resolution. This is why Finantsinspektsioon believes in the single resolution mechanism of the euro area and now plays an active part in the work of the SRB”, said chair of the management board of Finantsinspektsioon Kilvar Kessler.
The SRB started work in March 2015 and coordinates resolution institutions across the euro area. The task of the SRB is to ensure that winding up the operations of banks that have fallen into difficulty has minimal impact on the non-financial economy and on funding both within the euro area countries and outside of them. Responsibility for resolution in Estonia lies with Finantsinspektsioon.