On December 2, 2019, a workshop "Novelties related to the Republic of Croatia Joining the Single Resolution Mechanism" was organized by the Croatian National Bank (hereinafter: CNB) in cooperation with the Single Resolution Board (hereinafter: SRB) and the Deposit Insurance and Bank Resolution Agency (hereinafter: DAB) participated by the representatives Executive Director Marija Hrebac and Resolution Specialist Branka Križanić.

Adopting a decision of the European Central Bank (hereinafter: the ECB) on establishing close cooperation, Croatia will, in accordance with the regulations, become a full participating member of the Single Resolution Mechanism (hereinafter: SRM).

Participation in SRM will bring certain changes in business operation in Croatia.

Main news is the participation of Croatian representatives in the decision-making process and management of the Single Resolution Board (hereinafter: SRB) together with other representatives of Banking Union Member States. Croatia's accession to the Banking Union is expected in mid-2020.

Upon entry into the SRM DAB will, as a national resolution authority that collects annual resolution contributions, be obliged to collect and transfer funds from the National Resolution Fund to the SRF. SRB and DAB will inform banks on the details of this commitment in spring 2020.