RRP for Non-Banks Moved Forward

On 22 October 2013, the EU Parliament updated it procedural file on the recovery and resolution framework for non-bank institutions.  The indicative first or single reading plenary session scheduled for 13 January 2014 has been moved forward to 9 December 2013.

Advertisements

2 thoughts on “RRP for Non-Banks Moved Forward

  1. Excuse my ignorance of EU Parliamentary procedures, what are indicative reading plenary sessions and what is the consequence of having it moved forward? How close are they to actually enacting it?

    • Dear Nicole,

      Thank you for your question. Indicative reading plenary session is a suggested (‘indicative’) meeting of the whole Parliament (‘plenary session’). Under Parliamentary procedures, the Commission presents a proposal to Parliament and the Council which can only become law if both agree on a text, which they do (or not) through successive readings up to a maximum of three. As this is only the first reading in December, it is too early to say at this point how close they are to actually enacting the framework.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s