Council adopts rules setting up single resolution mechanism

EU News 307/2014

Council of the European Union
PRESS RELEASE
ST 11814/14
PRESSE 397
Brussels, 14 July 2014

The Council today adopted a regulation establishing a single resolution mechanism for failing banks (PE=CONS 88/14).

The creation of a single resolution mechanism (SRM) – with a central decision-making board and a single resolution fund – ensures that resolution decisions across participating member states will be taken in a coordinated and effective manner, minimising negative impacts on financial stability and reducing the dependence of banks on the creditworthiness of sovereigns.

Source and additional information:
http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/143925.pdf

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