Banking union: Single resolution fund on schedule for 1 January, 2016

EU News 359/2015

30/11/2015

The EU's single resolution mechanism will enter into force as foreseen on 1 January 2016. This signals completion of the second pillar of Europe's banking union.

As of 30 November 2015, a sufficient number of member states has ratified an intergovernmental agreement (IGA) on the transfer and mutualisation of contributions to a single resolution fund (SRF).

This will allow full operationalisation of the SRF.

Source and additional information:
http://www.consilium.europa.eu/en/press/press-releases/2015/11/30-banking-union-single-resolution-fund-for-1-january-2016/

• Tweet