Notice concerning the 2025 contribution cycle to the Single Resolution Fund

As of 1 January 2016, financial intermediaries falling within the scope of the Single Resolution Mechanism (SRM) are required to contribute to the Single Resolution Fund (SRF) through annual ex-ante contributions set according to a payment plan distributed over an eight-year initial period (from 2016 to 2023).

After the initial period, the Single Resolution Board (SRB) will verify, on an annual basis, whether the available financial means of the SRF have decreased to below the target level (amounting to at least 1 per cent of the covered deposits of the credit institutions falling within the scope of the SRM) and, following this evaluation, will assess whether contributions to the SRF have to be calculated and collected.

Consequently, as the findings of this evaluation are not currently known, the SRB has to take the same preparatory steps, which had already been implemented during the transitional period, to ensure that, if necessary, it will be in a position to calculate and collect the 2025 contributions, in compliance with the applicable legal framework.

To this end, the data collection exercise for the 2025 contribution cycle has been started.

In this respect, the Italian financial intermediaries falling within the scope of the SRF are required to send to Banca d'Italia the data for the 2025 contribution cycle from 11 November 2024 to 10 January 2025, in accordance with the instructions transmitted to the concerned institutions by Banca d’Italia.

Further information on the 2025 contribution cycle to the SRF is available on the website of the SRB.