The second edition of the present study, only eight months after the first edition appeared, was deemed necessary given the entry into full operation of the Single Resolution Mechanism and the Single Resolution Fund on 1 January 2016. The study has been amended accordingly to reflect this development and take into consideration all the newly adopted legal acts and the secondary sources published after the cut-off date of the first edition, i.e. August 2015. This study aims to provide a systematic and comprehensive review of the provisions of the legal acts which are the sources of the EU Single Resolution Mechanism (‘SRM’) and the EU Single Resolution Fund (‘SRF’) that constitute the second main pillar of the European Banking Union (‘EBU’). It is structured in six (6) Sections: (1) Section A reviews the main provisions of the SRM Regulation (‘SRMR’) (under 2) and of the SRF Agreement (under 3), within the framework of the legal acts which constitute the sources of the EBU (under 1). (2) Section B provides a general overview of this new institutional framework, focusing on the various aspects of the Single Resolution Board (‘SRB’): its legal status, seat and composition, its administrative and management structure, the Appeal Panel, the independence and accountability regime, aspects of liability, and all other relevant provisions (under 1-7, respectively). (3) Section C deals with the provisions of the SRMR on resolution planning (under 1), with particular emphasis on those pertaining to the minimum requirement for own funds and eligible liabilities (MREL) (under 2) and to early intervention (under 3). (4) The resolution regime under the SRM Regulation is presented in Section D. This Section examines: the objectives and principles of resolution, the resolution procedure, the provisions on write-down and conversion of relevant capital instruments, the framework governing the resolution tools, the cooperation arrangements, as well as the investigatory powers of the Board and its power to impose penalties (under 1-6, resp.). (5) Section E deals with the SRF, and in particular with: its constitution, administration, investments, and use under the SRM Regulation (under 1), and the specific provisions of the SRF Agreement (under 2). (6) Finally, Section F contains the concluding remarks of the study.