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On 8 December, the Centre signed an agreement with the Single Resolution Board (SRB). Based in Brussels, this newly-created EU agency has been operational as of 1 January 2015.
As explained on the Europa website, the Single Resolution Board is "the central decision-making body of the Single Resolution Mechanism. Its mission is to ensure that credit institutions and other entities under its remit, which face serious difficulties, are resolved effectively with minimal costs to taxpayers and the real economy".
Established in 1994, the CoR is the political assembly that provides local and regional authorities with a voice at the heart of the European Union.