Council adopts rules setting up single resolution mechanism
EU News 307/2014
Council of the European Union
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.
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