On 19 February 2014, the EU Council published a press release reviewing the state of play of negotiations over the single resolution mechanism (SRM).
Committed to reaching agreement over the SRM before the upcoming parliamentary elections, EU finance ministers had met the previous day in order to discuss possible adjustments to the Council’s December 2013 general approach to the SRM, with a view to giving more flexibility to the presidency in the forthcoming “trilogue” negotiations. Wiggle room was noted as existing in the following areas: Continue reading →
On 6 February 2014, the European Central Bank (ECB) published a decision identifying those banks that are subject to comprehensive assessment under the Single Supervisory Mechanism (SSM) in accordance with Article 33(4) of Regulation 1024/2013. Continue reading →
On 4 February 2014, the EU Parliament published a press release on the latest negotiations over bank resolution.
As previously reported (see this blog post for more detail), negotiations over resolution funding seemed largely to have reached an impasse. However, yesterday’s tone seems somewhat more conciliatory in nature. Continue reading →
On 11 December 2013, the European Commission published a press release containing remarks made by Michel Barnier, European Commissioner for Internal Market and Services on EU banking structural reform. Mr Barnier stated that the legislative proposal on EU banking reform will be presented at the beginning of January 2014. Following the recent publication of the Volcker Rule on 10 December 2013, the Commission will also look at the details of this new rule (see this blog post for more details). For certain banks deemed too big to fail, he explained that the EU banking reform proposal will consider separation, calibration and treatment of the risks taken by these banks.