Member states sign agreement on bank resolution fund

EU News 234/2014

Brussels, 21 May 2014
10088/14
PRESSE 302

Representatives of 26 EU member states* today signed an intergovernmental agreement on the transfer and mutualisation of contributions to a single resolution fund that will be established as part of Europe's banking union.

The agreement will complement a regulation recently agreed with the European Parliament on the creation of a single resolution mechanism (SRM), which establishes the fund and also features a central decision-making board (see press release 8273/14). The single resolution fund will be fully financed by bank contributions.

* All EU member states except Sweden and the United Kingdom.

Source and additional information:
http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/142710.pdf

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