The tasks of the Bank of Greece regarding the resolution of credit institutions are performed, as explicitly provided for under Article 55A of its Statute and Article 3 within Article 2 of Law 4335/2015, by acts of its Executive Committee or its authorised bodies.
In this context, by Executive Committee Act 6/8.1.2013, as currently in force (last amended by Executive Committee Act 158/10.5.2019), the Resolution Measures Committee has been entrusted with issuing all the decisions and recommendations of the Bank of Greece as resolution authority under Article 2 (“Recovery and resolution of credit institutions and investment firms”) of Law 4335/2015 “Transposition of Directive 2014/59/EU (OJ L 173), and other provisions” (Government Gazette A87), as well as the decisions on resolution procedures that were pending as at the entry into force of the said law.
This Committee is composed of the following persons:
Chairman: The Deputy Governor to whom the Resolution Department reports.
Members: The Directors of the following Departments:
- Payment and Settlement Systems Department
- Statistics Department
- Financial Operations Department
- Resolution Department
If the Deputy Governor is absent or prevented from discharging his/her duties, he/she is replaced by a General Council member appointed in accordance with the last sentence of Article 32 of the Statute of the Bank of Greece. In case of a tie, the Chairman has a casting vote.
Duties of secretary of the Committee are discharged by a member of the Resolution Department.
The chairman of the Resolution Measures Committee is the Deputy Governor, Theodore Pelagidis, and the members are the Directors: Michael Michalopoulos
(Payment and Settlement Systems Department), Nikolaos Tsaveas (Statistics Department), Krystallo Michou (Financial Operations Department) and Maria Mavridou (Resolution Department).