Resolution and Compensation Unit

The GFSC is the appointed Resolution Authority (RA) for Gibraltar. The powers of the GFSC as RA are delegated to the Financial Services Resolution and Compensation Committee (the FSRCC), which was established in 2016.    

The FSRCC is responsible for resolution planning for Credit Institutions and certain Investment Firms as well as decision-making relating to the reorganisation of institutions experiencing financial difficulties. 

The FSRCC is operationally independent from the supervisory function of the GFSC, with the Resolution and Compensation Unit carrying out its day to day functions and reporting directly to the Committee. 

The key resolution objectives of the RA are to:

  • ensure the continuity of critical functions of BRRD firms where appropriate
  • avoid a significant adverse effect on the financial system, in particular by preventing contagion, including to market infrastructures, and by maintaining market discipline;
  • protect public funds by minimising reliance on extraordinary public financial support;
  • protect depositors covered by Directive 2014/49/EU and investors covered by Directive 97/9/EC; and 
  • protect client funds and client assets.

In addition, the FSRCC will continue to add important elements to its role of ensuring the stability of the Gibraltar financial market, the protection of clients and the implementation of and compliance with recognised international standards.

Separately, the FSRCC is also the authority responsible for the Deposit Guarantee Scheme in Gibraltar. It manages the tasks of the Deposit Guarantee Scheme, collects deposit guarantee contributions and decides on the Deposit Guarantee Fund’s payment liability. For further detail, please see

The FSRCC manages both the Resolution and Deposit Guarantee Ex-Ante Funds which are financed by contributions from credit institutions and investment firms where appropriate. These funds are held on trust and can only be used for the specified purposes intended.   




14/03/2018 FSRCC and GFSC MoU                                                                          Download


Templates & Briefing Notes

03/10/2018 Final Template Instructions  Download
01/10/2018 Final Resolution Template       Download
14/03/2018 Resolution Authority Internal Rules Download
10/01/2018 Q&A Resolution Planning Template Download
10/01/2018 Methodology for Ex-Ante Funding Contribution Calculations – Banking Resolution and Recovery Directive Download
14/08/2019 Introduction to Simplified Obligations Download 
17/03/2020 Introduction to Bank Resolution  Download
 21/04/2023 MREL Policy Download
31/10/2023 Methodology for Ex-Ante Funding Contribution Download


25/03/2022 Industry Dialogue Workshop: MREL Recap & Reporting  Download
25/06/2021 Industry Dialogue Workshop: Valuations in Resolution Download
17/03/2021 BRRD2 / MREL Q&As Download
27/02/2021 Industry Dialogue Workshop: UK MREL Application & Operationalisation Download
26/02/2021 Industry Dialogue Workshop: BRRD2: MREL Changes Download
29/01/2021 Industry Dialogue Workshop: Refresh of BRRDII Download
10/02/2020 Introduction to Valuations  Download
27/06/2019 ITS Submission Feedback  Download
28/02/2018 Industry Dialogue Workshop: FMI & Critical IT Systems Download
10/04/2018 Industry Dialogue Workshop:Critical Functions and Critical Shared Services Download
28/02/2018 Industry Dialogue Workshop - Simplified Obligations  Download 
21/02/2018 Industry Dialogue Workshop: Liability Template Download
13/12/2017 Industry Dialogue Workshop: MREL Download
03/11/2017 Industry Dialogue Workshop: Content of Resolution Plans       Download



20/02/2020 3rd RCU Seminar on Crisis Management, Resolution and Deposit Insurance: What is next and how to prepare  Download
24/09/2018 Resolution Compensation Unit Annual Seminar Download
14/09/2017 RCU Bank Resolution Seminar: Charting the Course for Gibraltar Banks       Download