The Single Resolution Board (SRB) has published its first Annual Report providing analysis of its 2015 priorities, which included capacity-building, setting up its governance structure and setting out clear competences. The Chair of the SRB states in the report that an efficient Deposit Guarantee Scheme and an effective and efficient insolvency regime in Member States are needed to complement the EU resolution regime. SRB works with the National Resolution Authorities on resolution planning and enhancing the stability of the banking sector under the framework of the Bank Recovery and Resolution Directive (BRRD).