Search Results for: Single Resolution Mechanism
Single Resolution Mechanism to come into effect for the Banking Union
January 4th, 2016
The Single Resolution Mechanism (SRM) will become fully operational on 1 January 2016. The SRM implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area. The full resolution powers of the Single Resolution Board (SRB) will ...
EU Commission proposes major Tax reform; A fair tax system through the EU Single Market
October 27th, 2016
The Commission has today announced plans to overhaul the way in which companies are taxed in the Single Market, delivering a growth-friendly and fair corporate tax system. Re‑calibrated as part of a broader package of corporate tax reforms, the ...
EU finances the Single Resolution Fund
December 9th, 2015
ECOFIN Ministers reaffirm the importance of deepening the Banking Union in the context of a well-functioning Economic and Monetary Union. Following the successful establishment of the Single Supervisory Mechanism (SSM), we welcome the forthcoming entry into force of the ...
CySec informs on Contribution of CIFs to the Single Resolution Fund and National Resolution Fund
November 23rd, 2015
The Cyprus Securities and Exchange Commission (CySec), the Cyprus financial regulatory authority, has issued today a circular to inform Cyprus Investment Firms about their contribution the Single Resolution Fund and National Resolution Fund. CySec’s Circular informs in relation to ...
French, German banks each to pay 15 billion euros into resolution fund
November 4th, 2014
France and Germany have agreed that banks in each country should pay 15 billion euros ($19 billion) toward a bank resolution fund designed to limit the fallout from a banking collapse, French Finance Minister Michel Sapin said on Tuesday. ...
Parliament negotiators rescue seriously damaged bank resolution system
March 20th, 2014
European Parliament negotiators on Thursday reached a deal with their member state counterparts on the single resolution mechanism to deal with failing banks. Many elements fell into place early in the morning after 16 hours of talks. The elements ...
Magic Circle Law firms pick up spots on new EU banking panel
August 5th, 2016
Magic Circle firms Clifford Chance and Linklaters have been joined by Hogan Lovells and PwC on a new panel created by the new EU authority responsible for winding up banks. The EU’s Single Resolution Board (SRB) tendered for legal advisers earlier this year, ...
Presentation of the ECB Annual Report 2015 to the Committee on Economic and Monetary Affairs of the European Parliament
April 8th, 2016
Vítor Constâncio, Vice-President of the ECB presented the ECB’s 2015 Annual Report. Below is the presentation as it was published: Mr Chairman, Honourable Members of the Committee on Economic and Monetary Affairs, Ladies and gentlemen, I am honoured to ...
A stronger Banking Union: New measures to reinforce deposit protection and further reduce banking risks
November 25th, 2015
Today, the Commission has proposed a euro-area wide insurance scheme for bank deposits and has set out further measures to reduce remaining risks in the banking sector in parallel. The recent crisis has shown that large economic and financial ...
Financial integration in Europe rebounds, ECB report finds
April 27th, 2015
Financial integration in the euro area has improved steadily and has reached a level close to that before the sovereign debt crisis Establishment of Banking Union and unconventional monetary policy actions taken by the ECB are major drivers of ...
