The Central Bank has published answers to FAQs relating to the Bank Recovery and Resolution Directive and its implementation in Ireland. As well as explaining the Single Resolution Mechanism, the Bank and Investment Firm Resolution Fund and the Single Resolution Fund’s target of collecting at least 1% of covered deposits within participating Member States ('the levy'), built up over an initial 8 year period, the FAQs explain why the levy is being imposed on banks and in-scope investment firms and how the levy is calculated.