Since 2015, the Bank of Greece, in its capacity as national resolution authority, has been responsible for calculating the regular ex-ante contributions of credit institutions and settling the respective procedures.
These contributions, for the year 2015, were paid to the National Resolution Fund (NRF), which is the Resolution Scheme of the Hellenic Deposit and Investment Guarantee Fund (HDIGF - TEKE).
From 2016 onwards, after the Single Resolution Mechanism became fully operational, the Single Resolution Board is responsible for the calculation of the contributions for credit institutions within the scope of the SRM, while contributions are pooled in the Single Resolution Fund (SRF).
The Bank of Greece is responsible for collecting and transferring the contributions to the SRF by the date specified in the Intergovernmental Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund (Law 4350/2015 - IGA).
It should be noted that the Bank of Greece continues to calculate the contributions for credit institutions that fall within the scope of only the BRRD and not of the SRM Regulation. The branches of credit institutions with head offices in third countries, that are authorised in Greece, fall into this category (“domestic branches of third-country institutions” or “Union branches” as termed in the BRRD).